What was the income (loss) balance for City Wide as of January 1, 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Class A | Class B | Capital | Earnings | Income (Loss) | Total | |
|---|---|---|---|---|---|---|
| Balance January 1, 2022 | $ 2,100 | $ 210,000 | $ 366,366 | $ 15,459,388 | $ (5,506) | $ 1 6,032,348 |
Source: Item 23 — RECEIPT (FDD pages 65–271)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the income (loss) balance as of January 1, 2022, was $(5,506). This figure represents the accumulated income or loss that City Wide carried forward from previous years into the 2022 financial year. It is a component of the total balance, which also includes figures for Class A, Class B, Capital, and Earnings.
For a prospective franchisee, this number provides a snapshot of City Wide's financial health at the beginning of 2022. A negative income (loss) balance suggests that the company had more accumulated losses than income up to that point. However, it is essential to consider this figure in conjunction with other financial data, such as net income, distributions, and comprehensive income, to gain a complete understanding of the company's financial performance and stability.
It's also important to note that the income (loss) balance is just one element of the overall financial picture. The document shows that City Wide's total balance as of January 1, 2022, was $16,032,348. Reviewing trends in net income, distributions, and other comprehensive income throughout the reported years (2022-2024) provides a more comprehensive view of City Wide's financial trajectory and sustainability.