What was the profit and loss account for Petro Stopping Center at January 1, 2024?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
| Share capital | Share premium account | Other reserves | Profit and loss account | BP Corporation North America shareholders' equity | Non controlling interests | Total equity | |
|---|---|---|---|---|---|---|---|
| At January 1, 2024 | 1 | 43,288 | 195 | (11,173) | 32,311 | 13,481 | 45,792 |
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, at January 1, 2024, the profit and loss account was reported as (11,173). This indicates an accumulated deficit or loss of $11,173 carried over from previous periods. This figure is a component of the BP Corporation North America shareholders' equity, which totaled 32,311 at the same date. The total equity, including non-controlling interests, amounted to 45,792.
For a prospective franchisee, this information provides a snapshot of the financial health of Petro Stopping Center at the beginning of 2024. A negative profit and loss account balance suggests that the company had experienced losses in prior years that had not yet been offset by profits. However, it is essential to consider this figure in the context of the overall equity and asset values of the company.
It is also important to note that the profit and loss account can be influenced by various accounting practices and business decisions. Franchisees should investigate the reasons behind the reported loss and assess the company's strategies for future profitability. Reviewing subsequent financial statements and understanding the trends in revenue, expenses, and profitability would provide a more complete picture of the financial performance of Petro Stopping Center.