What was the cash paid for interest by Deka Lash in 2/31/2021?
Deka_Lash Franchise · 2024 FDDAnswer from 2024 FDD Document
5 | 86,868 | | Interest income | | 06,704 | 1. | 618 | - 4 | | Employee retention credit income | | 811,828 | | - | | | Loss on disposal of fixed assets | | (15,000) | | - | - | | Interest expense | _ | - | | _ | (2,374) | | TOTAL OTHER INCOME (EXPENSE) | - | 862,951 | 85 | 163 | 84,494 | | NET INCOME | S | 220,255 | $ 225 | 549 | $ 717,454 |
| Balance at December 31, 2020 | $ (3,671,476) |
|---|---|
| Net income | 717,454 |
| Balance at December 31, 2021 | (2,954,022) |
| Net income | 225.549 |
| Balance at December 31, 2022 | (2,728.473) |
| Net income | 220,255 |
| Balance at December 31, 2023 | 5 (2,508,218) |
| 12 | 2/31/2023 | 2/31/2022 | 1 | 2/31/2021 | ||||
|---|---|---|---|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | Maria Agenta | |||||||
| Net income | 5 | 220,255 | 5 | 225,549 | $ | 717,454 | ||
| Adjustments to reconcile net income to net cash | ||||||||
| flows from operating activities: | ||||||||
| Depreciation | 17,948 | 13,439 | 19,608 | |||||
| Amortization | 18,000 | 13,556 | 1 | |||||
| Loss on disposal of property and equipment | 15,000 | - | 1 | |||||
| Allowance for notes receivable and doubtful accounts | 60,740 | - | ||||||
| Note receivable forgiveness | 71,469 | - | ||||||
| (Increase) decrease in operating assets: | ||||||||
| Accounts receivable | 445,348 | (295,995) | (239,322) | |||||
| Prepaid expense | 47,786 | 106,374 | (253,501) | |||||
| Inventory | 88,627 | 133,497 | (476,661) | |||||
| Deferred direct franchise costs | 473,893 | (78,089) | 65,581 | |||||
| Accrued interest - notes receivable | (5,259) | (1,618) | ||||||
| Deposits | 11,010 | (7,291) | (3,719) | |||||
| Increase (decrease) in operating liabilities: | ||||||||
| Accounts payable | 228,775 | 25,662 | (22,774) | |||||
| Accrued liabilities | (65,804) | 66,821 | 117,952 | |||||
| Deferred revenue | (61,584) | 66,092 | (28,768) | |||||
| Deferred initial franchise fee revenue | (1,079,797) | 122,394 | (264,725) | |||||
| Described initial statement for texture | _ | Arguerates | _ | 122,574 | - | (204,120) | ||
| NET CASH FLOWS PROVIDED BY (USED IN) | ||||||||
| OPERATING ACTIVITIES | 486,407 | 390,391 | (368,875) | |||||
| OFERATING SCHYIIIES | _ | 400,407 | _ | 390,331 | - | (300,013) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
| Purchase of property and equipment | (2.372) | (96,271) | (17,730) | |||||
| Proceeds from disposal of property and equipment | 18,854 | 100,277 | 1.121.500 | |||||
| Purchase of intangible asset | (2,750) | (2,025) | ||||||
| Capitalized software development costs | 12(150) | (10,000) | (44,000) | |||||
| Payments from notes receivable | 27,367 | (10,000) | [44,000) | |||||
| Issuance of notes receivable | (30,000) | (104,050) | ||||||
| Net change on notes receivable - related parties | (414,495) | (85,520) | 217,489 | |||||
| iver change on notes receivable - related parties | (4)4,492 | _ | (93,249) | 417,402 | ||||
| NET CASH FLOWS (USED IN) PROVIDED BY | ||||||||
| INVESTING ACTIVITIES | (403,396) | (297,866) | 155,759 | |||||
| EVILSTEND ACTIVITIES | - | (403,50) | - | (437,000) | - | 1202102 | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
| Net change on note payable - related parties | (68,048) | (231,837 |
Source: Item 23 — RECEIPT (FDD pages 63–234)
What This Means (2024 FDD)
According to Deka Lash's 2024 Franchise Disclosure Document, the cash paid for interest in 2/31/2021 was $2,374. This figure is part of the supplemental disclosure of cash flow information provided in the document.
This information is relevant to potential franchisees as it provides insight into Deka Lash's financial obligations related to interest payments during that period. Understanding the franchisor's cash flow and interest expenses can help franchisees assess the financial health and stability of the company.
It's important to note that the date provided, 2/31/2021, is not a valid date, as February only has 28 or 29 days depending on whether it is a leap year. This could be a typographical error in the FDD. Prospective franchisees should verify this date and the corresponding financial information with Deka Lash to ensure accuracy.