What was the operating income for City Wide in 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
----|------------------------------|-------|------|------------|---------------------------------|----------------------|-----------------------------------------------|-----|---------|---------------| | | Common Stock Class A Class B | | | | dditional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | | Total | | | Balance January 1, 2022 | $ | 2,100 | $ | 210,000 | $ | 366
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, City Wide's financial statements include the consolidated statements of income and comprehensive income for the years 2022, 2023, and 2024. However, the term "operating income" is not explicitly used in the provided excerpts. Instead, the financial statements detail net income for these years.
Specifically, the provided table shows the net income for City Wide in 2022 was $10,941,550. This figure represents the company's profit after all expenses, including taxes and interest, have been deducted from revenue.
A prospective franchisee should carefully review the complete audited financial statements (Exhibit A) referenced in the FDD to understand how City Wide defines and calculates its income. Understanding the components of revenue and expenses is crucial for assessing the financial health and potential profitability of a City Wide franchise.