2005-12-30_REPORT - M1982155 - Laserfiche WebLink

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Plante moran %7YIr~ i Ibrnn, PLLC SW 600 2007 Ci~b70ps COUt N6un Hh. AY ~B32B W:2~037G7700 Fa: 2~B.376.7707 pIRRel,7ofH1.a0n Independent Auditors Report To the Edw. C. Levy Co. We have audited the accompanying divisional balance sheet of Schmidt Construction (a division of Edw. C. Levy Co.) az of December 31, 2004. The divisional balance sheet is the responsibility of the Division's management. Our responsibility is to express an opinion on the divisional balance sheet based on our audk. We conducted our audk in accordance with audking standards generally accepted in the tinted States of America. Those standards require that we plan and perform the audk to obtain reasonable assurance about whether the divisional balance sheet is free of material misstatement. An audk includes examining, on a test basis, evidence supporting the amourrts and disclosures in the financial statemerra. An audk also includes assessing the accouming principles used and significant estlmates made by management, az well az evaluating the overall financial statement presentation. We believe that our audk provides a reazonable basis for our opinion. The_Division haz excluded certain asset retirement obligations from property and liabilkies in the accompanying balance sheet that, in our opinion, should be recorded in order to conform with accounting principles generally accepted in the tinted States of America. The effect of this departure from accounting principles generally accepted in the United States of America haz not been determined. In otrr opinion, except for the effects of not recording certain asset retirement obligations az diswssed in the preceding paragraph, the divisional balance sheet referred to above presents fairly, in all material respects, the divisional financial position of Schmidt Construction az of December 31, 2004, in conformity wkh accounting principles generally accepted In the United States of Amerra TiTSrcL. 1 r PLtt March 25, 2005 .~..