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Sample Financial Statement

HOUSE OF BREAD FRANCHISING, INC.

INDEPENDENT AUDITORS' REPORT

AND

FINANCIAL STATEMENTS

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For the Year Ended December 31, 2005

CSC

Crosby & Cindrich, Certified Public Accountants ___________A Professional Corporation___________

1368 Marsh Street - San Luis Obispo, CA 93401 Phone: (805)543-5800 Fax: (805)543-2575

Independent Auditors' Report

To the Board of Directors and Shareholders House of Bread Franchising, Inc. San Luis Obispo, California

We have audited the accompanying balance sheet of House of Bread Franchising, Inc. (a California S-Corporation), as of December 31, 2005, and the related statements of operations, shareholders' equity, 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 on our audit.

We conducted our audit in accordance with U.S. generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether 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 House of Bread Franchising, Inc., as of December 31, 2005, and the results of its operations and its cash flows for the year then ended in conformity with U.S. generally accepted auditing standards.

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CROSBY & CINDRICH Certified Public Accountants A Professional Corporation

February 9, 2006

HOUSE OF BREAD FRANCHISING, INC.

INDEPENDENT AUDITORS' REPORT AND FINANCIAL STATEMENTS For the Year Ended December 31, 2005

TABLE OF CONTENTS

PAGE

INDEPENDENT AUDITORS'REPORT........................................................................................................2

FINANCIAL STATEMENTS

Balance Sheet....................................................................................................................................3

Statement of Operations....................................................................................................................4

Statement of Changes in Shareholders' Deficit................................................................................5

Statement of Cash Flows...................................................................................................................6

NOTES TO FINANCIAL STATEMENTS....................................................................................................7-9

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.