What was the value of Deck Medic's retained earnings in 2021?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the accompanying financial statements of Deck Medic, Inc. (an Illinois corporation), which comprise the balance sheets as of December 31, 2022 and 2021 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, 2022 and 2021, 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 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, information regarding Deck Medic's retained earnings as of December 31, 2021, is not explicitly provided. While the document includes financial statements audited by Metwally CPA PLLC for the years 2022 and 2021, and statements of operations for those years, the specific value of retained earnings for 2021 is not disclosed in the provided excerpts.
To obtain this information, a prospective franchisee should review the full financial statements within Item 23 of the FDD, specifically the balance sheets and statements of stockholders' equity. These statements would typically detail the retained earnings for both 2021 and 2022, allowing for a clear understanding of the company's financial position and profitability trends.
Understanding the retained earnings is crucial for assessing the financial health and stability of Deck Medic. It represents the accumulated profits of the company that have been reinvested back into the business rather than distributed as dividends. A healthy retained earnings balance can indicate strong financial management and potential for future growth, making it a key factor for potential franchisees to consider.