For Punch King Fitness, on what page of the provided document can I find the Balance Sheet?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
To the Board of Directors and Shareholders Punch King Fitness, Inc.
Opinion
We have audited the accompanying financial statements of Punch King Fitness Inc., which comprise the balance sheet as of December 31, 2022, and the related statements of income and retained earnings and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Punch King Fitness, Inc. as of December 31, 2022, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 22 — CONTRACTS (FDD pages 56–215)
What This Means (2024 FDD)
According to the 2024 Punch King Fitness Franchise Disclosure Document, the balance sheet as of December 31, 2022, is part of the financial statements that have been audited. The Independent Auditor's Report indicates that these financial statements also include the statements of income and retained earnings, and cash flows for the year then ended. This information can be found on page 169.
Similarly, the balance sheet as of December 31, 2023, along with related financial statements, is included in another Independent Auditor's Report. This report covers the financial position of Punch King Fitness as of that date, as well as the results of its operations and cash flows for the year. This information can be found on page 158.
Prospective franchisees should review these audited financial statements, including the balance sheets, to gain an understanding of Punch King Fitness's financial health and performance. It is important to note the dates of these statements (December 31, 2022 and December 31, 2023) and consider whether more recent financial information is available or should be requested during the due diligence process.