Do the Spray Net financial statements include an income statement?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Stockholders of Spray-Net, Inc.
Opinion
We have audited the financial statements of Spray-Net, Inc., which comprises the balance sheet as of December 31, 2024, 2023 and 2022 and the related statement of operations, and changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Spray-Net, Inc. as of December 31, 2024, 2023 and 2022, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 75)
What This Means (2025 FDD)
According to Spray Net's 2025 Franchise Disclosure Document, the financial statements audited by Muhammad Zubairy, CPA PC, include a statement of operations. This statement is essentially an income statement, detailing the company's revenues, expenses, and profits over a period of time. The auditor's report confirms that they audited this statement along with the balance sheet, changes in stockholders' equity, and cash flows for the years ending December 31, 2024, 2023, and 2022.
For a prospective Spray Net franchisee, this means that the FDD contains historical financial performance data for the company, presented in a standard income statement format. Reviewing these statements will provide insights into Spray Net's profitability, revenue trends, and expense management. This information is crucial for assessing the financial health and stability of the franchisor.
It is important for potential franchisees to carefully examine these financial statements and related notes, possibly with the help of a financial advisor. Understanding Spray Net's past financial performance can help in making informed decisions about investing in a franchise. The auditor's opinion also provides assurance that the financial statements are presented fairly in accordance with accounting principles generally accepted in the United States of America.