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Sample Financial Statement

BUBBIES HOMEMADE ICE CREAM AND DESSERTS, INC.

Financial Statements

September 30, 2002

KOBAYASHI, DOI & LUM CPAs LLC

220 South King Street, Suite 1700 Honolulu, Hawaii 96813 Bus (808)521-3962 Fax (808)531-3217 410Kilani Avenue, Suite 202 Wahiawa, Hawaii 96786 Bus (808) 622-4188 Fax (808)621-2438

INDEPENDENT AUDITORS' REPORT

To the Board of Directors Bubbies Homemade Ice Cream and Desserts, Inc. Honolulu, Hawaii

We have audited the accompanying balance sheet of Bubbies Homemade Ice Cream and Desserts, Inc. as of September 30, 2002 and the related statements of income and retained earnings and cash flows for the year 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 upon our audit.

We have conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance that 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 audit provides 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 Bubbies Homemade Ice Cream and Desserts, Inc. at September 30, 2002, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplementary information included in Schedule I is presented for the purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly presented in all material respects in relation to the basic financial statements taken as a whole.

Honolulu, Hawaii November 20, 2002

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.