What was the income (loss) for City Wide on December 31, 2024?
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 |
| Net income | - | - | - | 10,941,550 | - | 1 0,941,550 |
| Other comprehensive income | - | - | - | - | 26,999 | 26,999 |
| Distributions | - | - | - | ( 8,431,640) | - | (8,431,640) |
| Balance December 31, 2022 | 2,100 | 210,000 | 366,366 | 17,969,298 | 21,493 | 1 8,569,257 |
| Net income | - | - | - | 14,196,288 | - | 1 4,196,288 |
| Other comprehensive loss | - | - | - | - | (6,653) | (6,653) |
| Distributions | ||||||
| - | - | - | ( 21,712,635) | - | (21,712,635) | |
| Balance December 31, 2023 | ||||||
| 2,100 | 210,000 | 366,366 | 10,452,951 | 14,840 | 1 1,046,257 | |
| Net income | ||||||
| - | - | - | 19,161,078 | - | 1 9,161,078 | |
| Other comprehensive income | ||||||
| - | - | - | - | 39,507 | 39,507 | |
| Distributions | ||||||
| - | - | - | ( 16,582,517) | - | (16,582,517) | |
| Balance December 31, 2024 | $ 2,100 | $ 210,000 2024 | $ 366,366 2023 | $ 13,031,512 2022 | $ 54,347 | $ 1 3,664,325 |
| Operating Activities | ||||||
| Net income | $ 19,161,078 | $ 14,196,288 | $ 10,941,550 |
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) on December 31, 2024, was $54,347. This figure represents the 'Income (Loss)' reported in the provided balance sheet data. It is important to note that this value is part of a larger financial picture, including assets, liabilities, and equity, which provides a more comprehensive view of City Wide's financial health.
This income (loss) figure is a component of the overall 'Balance December 31, 2024,' which totals $13,664,325. The balance is composed of several classes and categories, including Class A, Class B, Capital, and Earnings. The net income for the year 2024 was $19,161,078, which contributed to the final balance. However, distributions of $16,582,517 reduced the overall balance.
Prospective franchisees should consider this income (loss) figure in the context of City Wide's complete financial statements. Understanding the factors that contribute to the company's profitability and financial stability is crucial for making an informed investment decision. Reviewing the trends in net income, distributions, and other comprehensive income over the years presented (2022-2024) can provide valuable insights into the company's financial performance and management practices.