What was the change in other current liabilities for Gokhale Method in 2021?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
|
| 2021 | 2020 | ||
|---|---|---|---|
| Cash flows from operating activities: | 700 | ||
| Net income | 8 | 14,754 3 | 26.730 |
| Adjustments to reconcile net income to net | |||
| cash provided by operating activities: | |||
| Changes in operating assets and liabilities | |||
| Accounts receivable | (1,597) | 19,896 | |
| Prepaid and other current assets | 428 | (429) | |
| Accounts payable | 1,921 | (7,925) | |
| Payable to teachers | 1,365 | ||
| Other current liabilities | 4 | (662) | |
| Deferred revenue | 1 | (8,423) | (16,752) |
| Net cash provided from operating activities | P 1 | 8,448 | 20,858 |
| Net increase in cash | 8,448 | 20,858 | |
| Cash and cash equivalents - beginning of year | 100 | 112,072 | 91,214 |
| Cash and cash equivalents - end of year | S | 120,520 $ | 112,072 |
| Supplemental disclosures of cash flow information: | |||
| Taxes paid | $ | 800 $ | 800 |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method FDD, the change in other current liabilities from 2020 to 2021 was an increase of $666. In 2020, other current liabilities were ($662), and in 2021, they were $4.
Understanding the changes in liabilities can help a prospective Gokhale Method franchisee assess the company's financial stability and how it manages its short-term obligations. Reviewing these figures over several years, if available, would provide a more comprehensive view of the company's financial trends.
It's important for potential franchisees to consult with a financial advisor to fully understand the implications of these financial statements. This will help them make an informed decision about investing in a Gokhale Method franchise.