table_specific

What was the noncash lease expense for Kitchen Solvers in 2022?

Kitchen_Solvers Franchise · 2025 FDD

Answer from 2025 FDD Document

1 | 0 | | TN | 0 | 1 | 0 | | MN | 0 | 1 | 0 | | TOTAL | 0 | 3 | 0 |

Statements of Cash Flows

Years Ended December 31, 2024, 2023, and 2022

2024 2023 2022
Increase (decrease) in cash:
Cash flows from operating activities
Net income $ 464,580 $ 210,640 $ 232,257
Adjustments to reconcile net income to net
cash provided by operating activities:

Source: Item 21 — Financial Statements (FDD pages 48–49)

What This Means (2025 FDD)

According to Kitchen Solvers' 2025 Franchise Disclosure Document, the noncash lease expense for 2022 is not explicitly listed as a positive value. The provided table shows the noncash lease expense as a dash "-" for the year 2022. This could indicate that the value was zero or was not material enough to be reported separately.

It is important to note that the table includes noncash lease expenses of $40,121 for 2024 and $10,262 for 2023. The presence of these figures in other years suggests that Kitchen Solvers does engage in leasing activities that result in noncash expenses. The absence of a specific figure for 2022 could be due to a change in accounting practices, a year with no new leases initiated, or the immateriality of such expenses in that particular year.

A prospective Kitchen Solvers franchisee should inquire with the franchisor to understand why there is no reported noncash lease expense for 2022. Understanding the reasons behind this could provide insights into the company's financial management and leasing strategies. It would also be prudent to understand what constitutes a 'noncash lease expense' in Kitchen Solvers' accounting practices.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.