ABC COMPANY LTD.

FINANCIAL STATEMENTS
(Unaudited - See Notice to Reader)

SEPTEMBER 30, 2018

NOTICE TO READER
ABC Company Ltd.

On the basis of information provided by management,we have compiled the balance sheet
of ABC Company Ltd. as at September 30, 2018 and the statements of income and
retained earnings for the year then ended.
We have not performed an audit or a review engagement in respect of these financial
statements and, accordingly, we express no assurance thereon.
Readers are cautioned that these statements may not be appropriate for their purposes.

Vancouver, B.C. Bean Counter Inc.

November 23, 2018 Chartered Professional Accountants

1.
ABC COMPANY LTD.
BALANCE SHEET
(Unaudited - See Notice to Reader)
AS AT SEPTEMBER 30, 2018

2018 2017
ASSETS
Current assets
Cash $ 58,909 $ 28,674
Accounts receivable 208,970 61,946
Inventory 1,000 1,000
Security deposits 3,354 -
Due from related parties 190,545 163,969
Due from shareholders 33,872 20,344
496,650 275,933
Property, plant, and equipment (Note 2) 194,774 95,625

$ 691,424 $ 371,558
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities $ 132,661 $ 19,110
GST payable 45,077 16,901
Corporation taxes payable 30,131 8,518
Other current liabilities 2,775 863
210,644 45,392
Long term liabilities
Long term debt 23,000 23,000
233,644 68,392
SHAREHOLDERS' EQUITY
Share capital (Note 3) 1 1
Retained earnings 457,779 303,165
457,780 303,166

$ 691,424 $ 371,558
APPROVED ON BEHALF OF THE BOARD:
_____________________________ Director
_____________________________ Director

2.
ABC COMPANY LTD.
STATEMENT OF INCOME AND RETAINED EARNINGS
(Unaudited - See Notice to Reader)
FOR THE YEAR ENDED SEPTEMBER 30, 2018

2018 2017
Sales $ 752,107 $ 549,267
Cost of sales 104,000 87,364
Gross margin 648,107 461,903
Expenses
Advertising and promotion 3,000 3,000
Amortization 25,778 39,130
Automobile 12,130 10,623
Bank charges and interest 8,855 6,582
Commissions 171 340
Fees and licences 487 377
Insurance 3,750 3,769
Meals and entertainment 2,456 4,169
Professional fees 3,020 2,670
Rent 70,737 60,017
Repairs and maintenance 575 4,173
Subcontracts 7,777 5,639
Supplies 5,719 13,422
Telecommunications 3,718 5,884
Travel 1,720 1,707
Utilities 8,105 6,659
Wages and benefits 313,882 253,248
471,880 421,409
Net income before income taxes 176,227 40,494
Income taxes 21,613 8,518
Net income 154,614 31,976
Retained earnings, beginning of year 303,165 271,189

Retained earnings, end of year $ 457,779 $ 303,165

3.
ABC COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS
(Unaudited - See Notice to Reader)
SEPTEMBER 30, 2018

1. SIGNIFICANT ACCOUNTING POLICIES

Property, plant, and equipment are recorded at cost. Amortization is provided
annually at rates calculated as follows, except in the year of acquisition when one-
half of the rate is used.

Automobiles - 30%
Computer equipment - 55%
Furniture and equipment - 20%
Intangibles - 7%

2. PROPERTY, PLANT, AND EQUIPMENT

Accumulated Net Net

Cost Amortization 2018 2017
Automobiles $ 10,430 $ 7,536 $ 2,894 $ 534
Computer equipment 12,766 9,186 3,580 2,594
Furniture and equipment 176,823 41,337 135,486 35,708
Intangibles 61,063 8,249 52,814 56,789

$ 261,082 $ 66,308 $ 194,774 $ 95,625

3. SHARE CAPITAL
Authorized
No Maximum Common shares without par value

Issued 2018 2017

100 Common shares without par value $ 1 $ 1

4.