What was the amount of cash and equivalents at the end of the year for Endless Summer Sweets?
Endless_Summer_Sweets Franchise · 2024 FDDAnswer from 2024 FDD Document
anoga Park, CA 91303 gautam@factprofessional.com · www.factprofessional.com
Endless Summer Sweets Franchising Inc. Balance Sheet As of December 31, 2023
ASSETS
Current Assets:
Cash $ 2,000
Total Current Assets 2,000
Total Assets $ 2,000
Endless Summer Sweets Franchising Inc. Balance Sheet As of December 31, 2023
LIABILITIES AND STOCKHOLDERS' EQUITY
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit E contains our audited opening balance sheet dated December 31, 2023. Our fiscal year | |
| end is December 31st. |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Endless Summer Sweets's 2024 Franchise Disclosure Document, the amount of cash and equivalents at the end of the year is $2,000. Specifically, the balance sheet as of December 31, 2023, shows cash of $2,000 under current assets, making the total current assets and total assets also $2,000.
Additionally, the statement of cash flows indicates a net increase in cash and equivalents of $2,000 during the period. With the cash and equivalents at the beginning of the year listed as zero, the cash and equivalents at the end of the year is $2,000.
For a prospective franchisee, this figure provides a snapshot of Endless Summer Sweets's financial health at the close of 2023. It's important to consider this value in the context of the company's overall financial statements, including its liabilities, equity, and cash flow activities, to gain a comprehensive understanding of its financial stability and operational efficiency.