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• <br />Cooppers <br />`&Lybrand <br />Report of Independent Accountants <br />To the EdN. C. Levy Co.: <br />Coopsn 8 Lybrand L.LP. <br />a poless~onal ~erv¢es Lrm <br /> <br />\\'e have audited the accompanying divisional halance sheet of Schmidt Construction (division of <br />Edty. C. Levy Co.) as of December 31, 1947. This balance sheet is the responsibility of the <br />Division's management. Our responsibilitti~ is to express an opinion on this balance sheet based on <br />our audit. <br />Vde conducted our audit in accordance kith general)}~ accepted auditine standards. Those standard <br />require that we plan and perform the audit to obtain reasonable assurance about whether the fmancia: <br />statements are free of material misstatement. An audit includes examining. on a test basis. e~•idenee <br />supposing the amounts and disclosures in the financial statements. An audit also includes assessinc <br />the accounting principles used and significant estimates made h~ management. as u~el] as e~alua[inc <br />the overall financial statement presentation. \~'e believe tha: oer audit provides a reasonable basis <br />for ou,- opinion. <br />In our opinion, the balance shoe: referred to above presents fair)}, in a'! materia: respects. the <br />financial position of Schmidt Construction (division of Ed«. C. Le~~}~ Co.) z< of December 31, ]997 <br />in conformit}' with generall}~ accepted accounting principles. <br />~x~~ <br />Detroit, 1`lichigar <br />March 20, 1991; <br /> <br />