What were the total liabilities for Dryject at the end of 2023?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
ther matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that I identified during the audit.
ROGER K. STEIN, CPA LLC
Neptune, New Jersey
April 2, 2024
DRYJECT MANAGEMENT, LLC BALANCE SHEETS DECEMBER 31, 2023 AND 2022
| 2023 | 2022 | |||
|---|---|---|---|---|
| ASSETS | ||||
| Current Assets: | ||||
| Cash | $ | 213,331 | $ | 168,705 |
| Accounts receivable | 70,586 | 206,666 | ||
| Total Current Assets | 283,917 | 375,371 | ||
| Intangible Assets: | ||||
| Goodwill | 1,509,159 | 1,509,159 | ||
| Organization costs | 9,618 1,518,777 | 9,618 1,518,777 | ||
| Less: Accumulated Amortization | - | (1,128,911) | (977,993 | |
| Net Intangible Assets | _ | 389,866 | - | 540,784 |
| Total Assets | $ | 673,783 | s | 916,155 |
| LIABILITIES AND MEMBER'S CAPITAL | ||||
| Current Liabilities: | ||||
| Accounts payable | $ | 95,314 | $ | 195,817 |
| Accrued expenses | 14,980 | 20,910 | ||
| Current portion of long-term debt | - | 161,548 | 148,217 | |
| Total Current Liabi |
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company's total liabilities at the end of 2023 were $644,594. This figure is derived from the balance sheet, which provides a snapshot of Dryject's assets, liabilities, and equity at a specific point in time.
Specifically, the liabilities are broken down into current liabilities and long-term debt. Current liabilities, which are obligations due within one year, totaled $271,842 and include accounts payable ($95,314), accrued expenses ($14,980), and the current portion of long-term debt ($161,548). The long-term debt, net of the current portion, amounted to $372,752, bringing the total liabilities to $644,594.
A prospective Dryject franchisee should carefully review these figures to understand the company's financial obligations and how they might impact the franchisor's ability to support its franchisees. It's also prudent to compare these liabilities to Dryject's assets and equity to assess the company's overall financial health and stability. Understanding the nature and terms of the long-term debt is particularly important, as it can indicate future financial commitments and potential risks.