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<br />Ca'Lw[[ & Cook I <br /> <br />I ,1BOO S.W 6,1:1\ IWE1~UE <br />! SUITE 110 <br />I. FOln u<uorrml\L E, FLORID/, 33314 <br />i85.1l581-1660 <br />(9S.\t 321.8066 FAX <br />I INFO 0t,WCP;,OFFIC".COi,1 <br /> <br />CERTIFIED PUBLIC ACCOUNTANTS <br />iI' PAHTNEf1SHIP OF PHOFESS,ONAL ASSOCIATIONS) <br /> <br />INDEPENDENT A UDITOJ1S' REPOHT <br /> <br />To the Stockholders of <br />Shoreline Foundation. Inc.: <br /> <br />We have audited the accompanying balance sheel of Shoreline Foundation, Inc. (a Sub-Chapter S Florida <br />Corporation) as of December 31,2009. and the related statements of income and retained c,jmings and cash <br />flows for the ycar then ended. These financial statements arc the responsibility of the Company's <br />management. Om responsibilily is 10 express an opinion on these financial SlatenlCnts based on our audit. <br /> <br />We conducted our audit in ;u:cordance with auditing standards generally accepted in the United States of <br />A merica. Those standards requi re that we plan and perform the audit to obtain reasonable assurance about <br />whether the financial statements are free of materiallllisstatemenl. An audit includes examining, on a test <br />basis. evidence supponing the amounts and disclosures in the financial statements. An audit also includes <br />assessing the accounting principles used and significam estimates made by management, as weli as evaluating <br />the ovenlll financial statement presentation. We believe that our audit provides a reasonable basis for our <br />oplllltm. <br /> <br />In our opinion, the financial Sl,lIemenlS referred to above present fairly. in all material respects, the financial <br />position of Shoreline Foundation, Inc. as or December 31,2009, and the results of its operations and its cash <br />flows for the year then ended in conformity with accounting principals generally ,1ccepted in the United States <br />of Arnerica. <br /> <br />Our audit \Vas conducted for the purpose of forming an opinion on the basic financial statements takC^ll as a <br />whole. The supplemental schedules liswd in the Table of CO!lteI1lS are presented for the purpose of additional <br />analysis and are 110t a required pan of the basic financial stHlcments. These schedules me the responsibility of <br />the Company's management. Such information has not been subjected to the auditing procedures applied in <br />the audit of the basic financial statements, and, accordingl):, we express no opinion on thai information. <br /> <br />~ -t- Coo).. <br /> <br />Carroll & Cook <br />April 16,2010 <br /> <br />f.1Nnbet^ /unnrican lnsllhlh: of Cenified Public ..\ccountams <br />, . Hofidn Institute of Cenified Public j\r:colilltants <br />