What was the change in noncash rental assets and liability for Crawlspace Medic in 2023?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
24 | $ | 216,112 | $ | 460,495 |
STATEMENTS OF CASH FLOWS CSM FRANCHISE GROUP, LLC
| 2023 | For the Years Ended December 31, 2022 | 2021 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 1,149,783 | $ 808,447 | $ 954,060 |
| Ch |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the change in noncash rental assets and liability for 2023 was ($1,167). This figure reflects the net effect of adjustments made to the company's balance sheet related to rental activities where cash did not directly change hands. These noncash adjustments are part of the broader accounting practices that Crawlspace Medic uses to accurately represent its financial position.
For a prospective Crawlspace Medic franchisee, understanding this figure is important as it provides insight into how the company manages its assets and liabilities without direct cash transactions. It is also important to note that in the years 2022 and 2021, there was no change in noncash rental assets and liabilities, as indicated by a dash in the table.
This information is part of the larger financial picture presented in the FDD, which includes net income, changes in franchisee and royalty fees receivable, and overall cash flow activities. Reviewing these figures in totality can help a potential franchisee assess the financial health and stability of Crawlspace Medic.