What were the total current liabilities for Precision Door Service's Development Area in 2023?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
For the years ended December 31, | 2024 | 2023 | |---|---|---| Operating activities | | | Net income | $159,370 $ | 166,470 | Adjustments to reconcile net income to net cash | | | provided by operating activities: | | | Depreciation and amortization | 95,532 | 97,290 | Bad debt expense | 3,714 | 2,283 | Trade notes issued | (14,803 ) | (15,050 ) | Collections of notes receivable | 17,158 | 16,293 | Changes in assets and liabilities: | | | Trade accounts receivable | (2,524 ) | (464 ) | Inventories | (794 ) | 883 | Prepaid selling expenses and other assets | (3,646 ) | (11,464 ) | Accrued liabilities | (1,361 ) | 198 | Deferred revenue | 1,725 | 11,195 | Net cash provided by operating activities | 254,371 | 267,634 | Investing activities | | | Purchase of equipment and other assets | (3,782 ) | (2,893 ) | Net cash used in investing activities | (3,782 ) | (2,893 ) | Financing activities | | | Distributions paid | (248,790 ) | (265,744 ) | Net cash used in financing activities | (248,790 ) | (265,744 ) | Net increase (decrease) in cash and restricted cash | 1,799 | (1,003 ) | Cash and restricted cash - Beginning of period | 4,737 | 5,740 | Cash and restricted cash - End of period | $6,536 $ | 4,737 | Supplemental cash flow disclosures: | | | Non-cash contribution of equity | $ | - $ | 101,756 | Balance at beginning of period | $83,807 $ | 68,226 | Fees received from franchise owners | 35,141 | 47,447 | Franchise sales revenue recognized | (33,680) | (36,783 ) | Contributed from Manager
Source: Item 23 — Receipts (FDD pages 92–433)
What This Means (2025 FDD)
I am unable to provide the total current liabilities for Precision Door Service's Development Area in 2023, as this information is not present within the provided excerpts from the 2025 Franchise Disclosure Document. The excerpts contain financial performance data such as revenues, costs, and net income, as well as cash flow information, but do not list balance sheet items like current liabilities. The excerpts do include information on accrued liabilities for 2023, which were $198.
To make an informed investment decision, prospective Precision Door Service franchisees should request a full copy of the franchisor's financial statements, including the balance sheets, from the franchisor. This will allow them to review the current and long-term liabilities of the company.
Understanding the liabilities of Precision Door Service is crucial for assessing the financial stability and overall risk associated with investing in the franchise. Reviewing the complete financial statements will provide a more comprehensive view of the company's financial health.