Financial Statement

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Sample Financial Statement

ABBOTT'S FROZEN CUSTARD, INC.

FINANCIAL STATEMENTS

AND

SUPPLEMENTAL SCHEDULES

FOR THE YEARS ENDED OCTOBER 31, 2005 AND 2004


ABBOTT'S FROZEN CUSTARD, INC. ROCHESTER, NEW YORK

TABLE OF CONTENTS

Independent Auditors' Report                                                                                          1

Balance Sheets                                                                                                         2-3

Statements of Income and Retained Earnings                                                                     4

Statements of Cash Flows                                                                                          5-6

Notes to Financial Statements                                                                                    7-11

Independent Auditors' Report on the Supplementary Information                                        12

Schedules of Selling and Administrative Expenses                                                             13


GELS0M1N0 & COMPANY, CPA'S

135 Calkins Road, Suite J

Rochester, New York 14623

(585) 334-7690

INDEPENDENT AUDITORS' REPORT

To the Stockholder of Abbott's Frozen Custard, Inc. Rochester, New York

We have audited the accompanying balance sheets of Abbott's Frozen Custard, Inc. (a New York Corporation) as of October 31, 2005 and 2004, and the related statements of income and retained earnings 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 audits to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit also 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 of our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Abbott's Frozen Custard, Inc. as of October 31, 2005 and 2004, and the results of its operations and its cash flows for the years then ended in conformity with generally accepted accounting principles.

Respectfully submitted,

Gelsomino & Company Certified Public Accountants

Rochester, New York

November 15, 2005

1


The original file could not be completely converted to text. Below is an excerpt from the file. The original file can be downloaded at the link above.