What were the total current assets for Corner Bakery Cafe in 2023?
Corner_Bakery_Cafe Franchise · 2025 FDDAnswer from 2025 FDD Document
elated matters that we identified during the audit.
Daniel P. Balley, CPA, PC
Plano, Texas April 17, 2025
Balance Sheets As of Decemer 31, 2024 and 2023
| _ | 2024 | 2023 | ||
|---|---|---|---|---|
| ASSETS | ||||
| Current assets: | ||||
| Cash | $ | 201,021 | $ | 360,839 |
| Accounts receivable, net | 384,001 | 302,086 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 55)
What This Means (2025 FDD)
According to Corner Bakery Cafe's 2025 Franchise Disclosure Document, the company's total current assets in 2023 were $1,795,389. This figure represents the sum of Corner Bakery Cafe's cash, accounts receivable (net of any allowances for doubtful accounts), amounts due from related parties, and prepaid expenses as of December 31, 2023.
For a prospective franchisee, understanding the current assets of Corner Bakery Cafe can provide insight into the company's short-term financial health and liquidity. Current assets are those that can be readily converted into cash within a year, and a higher value generally indicates a stronger ability to meet its short-term obligations. Reviewing these figures in comparison to previous years and other similar franchises can help a franchisee assess the financial stability of Corner Bakery Cafe.
It's important to note that the 2023 reporting period is from May 9, 2023 (the formation date) to December 31, 2023. This relatively short reporting period may influence the values of assets and liabilities reported, and should be considered when comparing to the 2024 figures which cover a full year. A potential franchisee should also consider how related party transactions, which totaled $1,122,464 in 2023, impact the overall financial picture.