12K IM Auditor's Report

12K IM Auditor's Report - the financial statements are free...

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5. Auditors' Report a. If Optional Exercise 3 is not assigned, the appropriate opinion is the standard report: ANDERSON, OLDS, & WATERSHED Certified Public Accountants 615 Big City National Bank Building Main at Michigan Avenue Chicago, Illinois 60612 Phone: (312) 555-4452 Fax: (312) 555-9991 Internet: www.aowcpa.com Independent Auditor s Report Board of Directors and Stockholders The Apple Blossom Cologne Company: We have audited the accompanying balance sheets of Apple Blossom Cologne Company, Inc. as of December 31, 2003 and 2002, and the related statements of income, changes in stockholders’ equity, and cash flows for the years then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
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Unformatted text preview: the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Apple Blossom Cologne Company as of December 31, 2003 and 2002, and the results of its operations and its cash flows for the years then ended in conformity with generally accepted accounting principles. Anderson, Olds, and Watershed Certified Public Accountants February 9, 2004...
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