What was the total depreciation expense for Cornwell Quality Tools in 2022?

Based on the 2025 Franchise Disclosure Document, the total depreciation expense for Cornwell Quality Tools in 2022 is not explicitly stated. However, the document does detail the accounting policies related to property, plant, and equipment, stating that these assets are recorded at cost, with depreciation provided using the straight-line method over the estimated useful lives of the assets. The FDD also mentions goodwill amortization expense, which totaled $848,376 in 2022.

While the FDD provides details on how Cornwell Quality Tools handles depreciation of its assets and goodwill, it does not disclose the specific total amount of depreciation expense recognized in 2022. The document explains that major additions and improvements to property are charged to the property accounts, while replacements, maintenance, and repairs are expensed currently. When property is retired, its cost is removed from the asset account, accumulated depreciation is charged, and any resulting gain or loss is recorded in operations.

For a prospective franchisee, understanding the depreciation expense is important for assessing the financial health and profitability of Cornwell Quality Tools. Since the exact figure is not provided, it would be prudent for a potential franchisee to request this information from the franchisor during their due diligence process. This would allow for a more comprehensive understanding of the company's financial performance and how depreciation impacts its bottom line. A prospective franchisee should also inquire about the estimated useful lives of the assets and the specific depreciation methods used, as these factors can significantly affect the reported depreciation expense.