What was the reported amount of Zoomin Groomin's accounts payable as of December 31, 2024?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
-----| | Member Contributions | - | | Member Distributions | - | | Net Income (Loss) | (482,370) | | Equity at December 31, 2022 | $ (693,256) | | Equity at January 1, 2023 | $ (693,256) | | Member Contributions | - | | Member Distributions | - | | Net Income (Loss) | (1,117,726) | | Equity at December 31, 2023 | $ (1,810,982) | | Equity at January 1, 2024 | $ (1,810,982) | | Member Contributions | - | | Member Distributions | - | | Net Income (Loss) | (1,825,281) | | Equity at December 31, 2024 | $ (3,636,263) |
Statements of Cash Flows For The Three Years Ended December 31, 2024
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash Flows From Operating Activities: | |||
| Net Income (Loss) | $ (1,825,281) | $ (1,117,726) | $ (482,370) |
| Adjustments to Reconcile Net Loss to Net | |||
| Cash Provided by Operating Activities: | |||
| Depreciation & Amortization | 6,000 | 6,000 | 6,000 |
| Changes in Assets and Liabilities | |||
| (Increase) Decrease in Inventory | 7,308 | 76,872 | 128,467 |
| (Increase) Decrease in Accounts Receivable | (173,640) | (51,110) | (91,766) |
| (Increase) Decrease in P |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, the change in accounts payable from 2023 to 2024 was a decrease of $71,077. This figure reflects the net change in Zoomin Groomin's outstanding short-term debts to suppliers and other creditors during that year.
This decrease in accounts payable could suggest that Zoomin Groomin paid off a significant portion of its outstanding bills during 2024, or that it reduced its purchasing on credit. For a prospective franchisee, this trend could indicate improved financial management and a stronger cash flow position for the company. However, it is important to consider this figure in the context of Zoomin Groomin's overall financial performance and strategy.
To gain a comprehensive understanding, a potential franchisee should analyze Zoomin Groomin's complete financial statements, including the balance sheet and income statement, to assess the company's overall financial health and its ability to meet its obligations. Additionally, it would be prudent to inquire about the specific factors that contributed to the decrease in accounts payable and how Zoomin Groomin manages its relationships with its suppliers and creditors.