Tax Letter

LILTS BERGER & ASSOCIATES | 4-1 |

Certified Public Accountants | CW 11/23/2015 |

Ocean City, Florida 33140 | |

October 30, 2015

Mr. Donald Phillips, President

36 Clearwater Lake Road

Ocean City, Florida 33140

Dear Mr. Phillips:

You have requested that we audit the financial statements of Oceanview Marine Company, which comprise the balance sheet for December 31, 2015, and the related statements of income, changes in stockholders’ equity, and cash flows for the year then ended, and the related notes to the financial statements. We are pleased to confirm our acceptance and understanding of this audit engagement by means of this letter. Our audit will be conducted with the objective of our expressing an opinion on the financial statements.

This letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31, 2015.

We will audit the company’s balance sheet for December 31, 2015, and the related statements of income, retained earnings, and cash flows for the year then ended. The purpose of our audit is to form an opinion as to whether these financial statements are fairly presented and in accordance with generally accepted accounting principles. We will review the company’s federal and state income tax returns for the fiscal year ended December 31, 2015. In addition, we will be available to consult with you concerning the tax effects of any transactions or changes in company policies.

The audit will be performed in accordance with generally accepted auditing standards (or other auditing standards where applicable). Our audit opinion will be based on our examination, made on a test basis, of your records, documents, assets, and equities. We will not examine all transactions, assets, or equities in detail, and the examination should not be relied on to detect all errors, fraud, or illegal acts that may have taken place....