Do the Deck Medic financial statements include an income statement?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the accompanying financial statements of Deck Medic, Inc. (the "Company") which comprise the balance sheets as of December 31, 2023 and 2022 and the related statements of operations, stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Deck Medic, Inc. as of December 31, 2023 and 2022 and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the financial statements audited by Metwally CPA PLLC include statements of operations. Specifically, the Independent Auditor's Report states that the audit encompasses the balance sheets as of December 31, 2023 and 2022, and the related statements of operations, stockholders' equity, and cash flows for the years then ended, along with related notes.
This means that prospective Deck Medic franchisees can review the franchisor's income and expenses, profitability, and overall financial performance for the past two years. The inclusion of these statements provides transparency into Deck Medic's financial health, which is a crucial factor for potential investors to consider.
It is standard practice for franchisors to include audited financial statements in their FDDs, including a balance sheet, income statement (statement of operations), statement of cash flows, and statement of retained earnings (stockholders' equity). These statements, prepared in accordance with generally accepted accounting principles (GAAP), offer a comprehensive view of the franchisor's financial condition and operating results.