What was the total value of accounts payable for Cornwell Quality Tools?
Cornwell_Quality_Tools Franchise · 2025 FDDAnswer from 2025 FDD Document
| Cornwell Quality Tools Company | CQT Kennedy, LLC | Eliminations | Consolidated | |
|---|---|---|---|---|
| ASSETS | ||||
| CURRENT ASSETS | ||||
| Cash and cash equivalents | $ 24,468,881 | $ 3,574 | $ - | $ 24,472,455 |
| Accounts receivable, trade - Net | 8,665,002 | 456,704 | · - | 9,121,706 |
| Accounts receivable - Subsidiary | 22,032,569 | 8,513,823 | (30,546,392) | - |
| Notes receivable - Net | 2,609,030 | - | - | 2,609,030 |
| Finance receivables - Net | 19,007,487 | - | - | 19,007,487 |
| Inventories - Net | 27,812,344 | 5,345,831 | 33,158,175 | |
| Prepaid expenses and other assets | 1,310,393 | 34,313 | - | 1,344,706 |
| Refundable income taxes | 294,000 | MA. | - | 294,000 |
| Total current assets | 106,199,706 | 14,354,245 | (30,546,392) | 90,007,559 |
| NONCURRENT ASSETS | ||||
| Notes receivable, net of current portion | 9,718,752 | _ | _ | 9,718,752 |
| Finance receivables, net of current portion | 59,693,453 | = | _ | 59,693,453 |
| Note receivable - Subsidiary | 12,435,791 | - | (12,435,791) | , -,···- |
| Investment - Subsidiary | 1,000,000 | - | (1,000,000) | ~ |
| Investments, designated | 158,562 | - | - | 158,562 |
| Property, plant and equipment - Net | 7,386,687 | 6,850,610 | - | 14,237,297 |
| Goodwill - Net | - | 4,029,783 | - | 4,029,783 |
| Deferred income tax asset | 4,064,000 | 4,064,000 | ||
| Total noncurrent assets | 94,457,245 | 10,880,393 | (13,435,791) | 91,901,847 |
| TOTAL ASSETS | $ 200,656,951 LIABILITIES AND SHAREHOL | $ 25,234,638 DERS' EQUITY |
Source: Item 23 — RECEIPT (FDD pages 101–373)
What This Means (2025 FDD)
According to Cornwell Quality Tools' 2025 Franchise Disclosure Document, the consolidated accounts payable for Cornwell Quality Tools was $15,732,912. This figure represents the total amount the company owes to its suppliers and other creditors as of a specific date.
For a prospective franchisee, understanding the accounts payable of Cornwell Quality Tools provides insight into the company's short-term financial obligations. A high accounts payable balance could indicate that the company is managing its cash flow effectively by delaying payments to suppliers, or it could signal potential financial strain if the company is struggling to meet its obligations. Conversely, a low accounts payable balance might suggest that the company has strong liquidity and is promptly paying its suppliers.
It is important to note that the accounts payable figure is just one component of the overall financial health of Cornwell Quality Tools. Franchisees should consider this number in conjunction with other financial metrics, such as accounts receivable, cash flow, and debt levels, to gain a comprehensive understanding of the company's financial stability and performance. Consulting with a financial advisor to analyze these figures in detail is advisable for any potential franchisee.