What were the total assets of the Gokhale Method as of 2023?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
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| | 2023 | |--------------------------------------------------------------------------------------------------------------------------|-------------------------| | ASSETS | | | Cash and cash equivalents Accounts receivable, net | $ 154,584 15,944 | | TOTAL ASSETS | $ 170,528 | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | LIABILITIES Accounts payable and other current liabilities Deferred revenue | $ 8,491 48,956 | | Total liabilities | 57,447 | | STOCKHOLDER'S EQUITY Common stock (1,000 voting shares authorized, 500 shares issued and outstanding, $0.01 par value) | 5 | | Common stock (1,000 non-voting shares authorized, no shares issued and outstanding, $0.01 par value) | - | | Additional paid in capital Retained earnings | 100,657 12,419 | | Total stockholder's equity | 113,081 | | TOTAL LIABILITIES & STOCKHOLDER'S EQUITY | $ 170,528 |
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Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, the total assets for Gokhale Method Institute, Inc. as of December 31, 2023, were $170,528. These assets included $154,584 in cash and cash equivalents and $15,944 in net accounts receivable.
In addition to assets, the balance sheet also details the liabilities and stockholder's equity. The total liabilities amounted to $57,447, comprising $8,491 in accounts payable and other current liabilities, and $48,956 in deferred revenue. The total stockholder's equity was $113,081. This figure includes common stock, additional paid-in capital of $100,657, and retained earnings of $12,419.
Prospective franchisees should consider these figures in the context of Gokhale Method's overall financial health and stability. Understanding the composition of assets and liabilities can provide insights into the company's ability to support its franchisees and manage its financial obligations. Reviewing these figures alongside previous years' financial statements, if available, can also reveal trends and potential areas of concern or strength.