What were the total current assets for Corner Bakery Cafe in 2024?
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 | ||
| Due from related parties | 2,268,610 | 1,122,464 | ||
| Prepaid expenses | 4,849 | 10,000 | ||
| Total current assets | 2,858,481 | 1,795,389 | ||
| Noncurrent assets: | ||||
| Ac |
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 2024 were $2,858,481. This figure represents the sum of Corner Bakery Cafe's assets that are expected to be converted into cash or used up within one year. These assets include cash, accounts receivable, net of any allowances for doubtful accounts, amounts due from related parties, and prepaid expenses.
For a prospective franchisee, understanding the composition and value of current assets is crucial for assessing the company's short-term financial health and liquidity. A higher value of current assets relative to current liabilities generally indicates a stronger ability to meet short-term obligations. The specific components, such as the amount due from related parties, also provide insights into the company's internal financial relationships.
In 2024, the most significant components of Corner Bakery Cafe's current assets were $201,021 in cash, $384,001 in accounts receivable, and $2,268,610 due from related parties. Prepaid expenses made up a smaller portion at $4,849. Reviewing these figures in comparison to previous years and industry benchmarks can help potential franchisees evaluate the financial stability and operational efficiency of Corner Bakery Cafe.
It's also worth noting that the FDD includes detailed notes explaining the accounting policies and related party transactions, which provide additional context for interpreting these financial figures. For instance, the document clarifies how amounts due from related parties arise from expenses paid by the company on behalf of its affiliates. This level of transparency can be valuable for prospective franchisees in making informed investment decisions.