What is the total value of Cornwell Quality Tools' noncurrent assets?
Cornwell_Quality_Tools Franchise · 2025 FDDAnswer from 2025 FDD Document
$ 26,136,071 | $ (52,277,990) | $ 205,281,913 |
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2021
| 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 |
| D |
Source: Item 23 — RECEIPT (FDD pages 101–373)
What This Means (2025 FDD)
According to Cornwell Quality Tools' 2025 Franchise Disclosure Document, the total noncurrent assets for Cornwell Quality Tools Company on a consolidated basis is $91,901,847. The noncurrent assets include items such as notes receivable net of current portion at $9,718,752, finance receivables net of current portion at $59,693,453, and property, plant, and equipment net at $14,237,297. Other noncurrent assets include investments designated at $158,562, goodwill net at $4,029,783, and deferred income tax asset at $4,064,000.
In 2024, the total noncurrent assets for Cornwell Quality Tools Company on a consolidated basis was $108,445,637. This includes notes receivable net of current portion at $11,429,113, finance receivables net of current portion at $65,818,519, and property, plant, and equipment net at $17,536,620. Other noncurrent assets include investments designated at $161,109, operating lease right of use assets at $6,308,869, goodwill net at $3,181,407 and deferred income tax asset at $4,010,000.
In 2023, the total noncurrent assets for Cornwell Quality Tools Company on a consolidated basis was $117,622,686. This includes notes receivable net of current portion at $11,503,165, finance receivables net of current portion at $75,799,926, and property, plant, and equipment net at $16,619,670. Other noncurrent assets include operating lease right-of-use assets at $6,631,893, goodwill net at $2,333,032 and deferred income tax asset - Net at $4,735,000. Understanding the composition and changes in noncurrent assets can help a franchisee assess the long-term financial health and investment strategies of Cornwell Quality Tools.