SAMPLE FINANCIAL STATEMENTS - Paar, Melis & Associates, P.C

MENU OF SERVICES &

SAMPLE FINANCIAL STATEMENTS

WWW. | INFO@ 602 Center Street, Suite 101, Mt. Airy, MD 21771 (301) 829-4646

WHO ARE WE?

WHY ARE WE DIFFERENT?

Paar Melis and Associates has been providing unparalleled tax and accounting services to the automotive repair industry since 1992. The business originally required our partners to drive around to local auto repair shops and collect their work. The driving to local shops has evolved into remotely working with over 460 auto repair shops all across the country. Since the automotive repair industry is our focus, we can provide industry specific insight that other accountants cannot provide. This allows us to help you really understand your financials so we can work together to improve your shop's profitability.

HOW CAN AN ACCOUNTANT IN MARYLAND HELP ME?

The increased integration of computers into both the sales and accounting sides of the automotive industry has brought the entire country only a matter of clicks away. We remotely access our client's computer and communicate via email, phone calls, and even video chats. Financials are delivered via a secure online portal and are available for download at any time. Even though we are sometimes thousands of miles away, our clients say that we are even easier to reach than their old accountant down the street.

OTHER SERVICES WE OFFER:

MONTHLY ACCOUNTING SERVICES TAILORED FOR AUTOMOTIVE REPAIR

INDIVIDUAL AND BUSINESS TAX PREPARATION

IRS AUDITS AND REPRESENTATION SERVICES

ESTATE AND TRUST TAXES

MONTHLY ACCOUNTING SERVICES TAILORED FOR AUTOMOTIVE REPAIR

VALUATION SERVICES

COST AND BREAK EVEN ANALYSIS

BUSINESS EXIT PLANNING

WHAT OUR CLIENTS ARE SAYING:

"The staff at Paar Melis and Associates have taken my auto repair business to the next level. With their expertise and knowledge in the Auto Repair Business, I sincerely cannot thank Terry Delph enough for all that she does and the countless hours she dedicates to all of her clients. She is literally only a phone call away and knows that your business is everything. Thank you and a HUGE pat on the back to Terry for being more than exceptional!" ? TRAVIS TROY, HONEST WRENCHES, Des Moines, IA

"Thanks for the rapid response to our need for financials for a bank loan. A request like that to my old accountant would have resulted in chaos and dubious results." - FIRST LANDING AUTOCARE, Virginia Beach, VA

"Absolutely the best! Professional, knowledgeable, friendly, willing to educate. Love working with them." - SOUTHEAST AUTO SERVICE, Hinesville, GA

"Reed Melis, Jason Paar and their team are an essential part of my team. I never have to wonder what my tax obligations will be, they are planned for. I never have to worry about the changing laws and requirements, my team at PMA keeps me informed and together we change the plans as needed. The entire PMA team is large enough to have the resources to serve Cardinal Plaza Shell and my family expertly and professionally...I give PMA my highest recommendation." - SCOTT BROWN, CARDINAL PLAZA SHELL, Springfield, VA

"Paar Melis not only understands our business, they provide value-added analysis to us every month and every tax season." - EUROPEAN AUTO REPAIR, Waltham, MA

"Paar Melis made accounting understandable. I've gotten an education, not just an accountant. You definitely need an automotive-specific accountant. The way everything keeps changing around in the industry and the way every state keeps changing the tax rules, especially Connecticut where we are. Paar Melis can do it all without issue. Their services are well worth every penny we are paying, honestly they're worth much more than we are paying them!" ? BARRY BALABAN, BLACK BEAR AUTO, Bristol, CT

"As an owner/operator of multiple auto repair establishments in the Denver Metro area, there

isn't anyone I'd rather have handle our Accounting and Tax business. Jason, Reed, Gail, Hunt and

so many others are integral to our operation. I can't think of a life without them!"

-

BRANDON PICKERING, PICKERING AUTOMOTIVE, Lakewood, CO

"We have been with Paar Melis for 15+ years and could not be happier! Experts in their field and experts in my industry! Perfect combination. Every person we have ever worked with has been absolutely incredible. They have figured out consistency in customer service, professionalism and exceeding our expectations!" ? DENNY'S AUTO, Riverton, UT

MENU OF SERVICES

QUICKBOOKS TRAINING- We offer 1 on 1 training, either at our office or remotely over the web, in blocks of hours. These are best used in 1-2 hour segments in order to get the most out of the training experience.

3 Hour Block 5 Hour Block

Regular Price $ 430 $ 725

Monthly Client Price $ 390 $ 640

TAILOR YOUR QUICKBOOKS FILE FOR MANAGEMENT INFORMATION- $ 399.00 One Time Fee (Discounted for Monthly Client)

-Edit your QuickBooks file and establish the correct Chart of Accounts and correct account classifications so your QuickBooks will produce useful reports. This will give you all the critical areas of management information to properly help you run your business with just a couple of mouse clicks.

ONE-TIME QUICKBOOKS FILE CLEAN-UP- Prices Vary Based on Time Required

-Correct and reclassify current year sales, cost of goods and payroll expenses for a useful profit and loss. -Set up a memorized daily sales journal that insures all future data will go to the proper accounts -Match your QuickBooks file to the prior year tax return -Balance sheet corrections as necessary

MONTHLY ACCOUNTING SERVICES- Prices Vary Based on Needs, Size and Complexity

-Monthly phone meeting at your request to review numbers -Mid-Year Tax Estimate Calculation to avoid tax "SURPRISES" -Monthly visit to your QB file to fix and correct your data and entries as necessary -Production of a Gross Profit Analysis -Monthly "Report Card" on your business -Monthly email with Report Card, P & L, GP Analysis and Balance Sheet -Answers to Quickbooks, tax, and general accounting questions are just a phone call away.

ONLINE PAYROLL SERVICES- Prices starting at $89/month

EMAIL: info@ PHONE: 301-829-4646

602 Center Street, Suite 101, Mt. Airy, MD 21771 (301) 829-4646 Fax (301) 576-3877

October 4, 2018

Reed's Auto Repair Attn: Reed Melis 602 Center Street Suite 101 Mt. Airy, MD 21771

We have compiled the accompanying statement of assets, liabilities and equity ? income tax basis of Reed's Auto Repair, as of June 30, 2018 and the related statement of revenues and expenses ? income tax basis for the period then ended in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The financial statements have been prepared on the accounting basis used by the company for income tax purposes, which is a comprehensive basis of accounting other than generally accepted accounting principles.

A compilation is limited to presenting, in the form of financial statements, information that is the representation of management. We have not audited or reviewed the accompanying financial statements, and, accordingly, do not express an opinion or any other form of assurance on them.

Management has elected to omit, substantially, all of the disclosures ordinarily included in financial statements. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about Reed's Auto Repair's financial position and results of operations. Accordingly, these financial statements are not designed for those who are not informed about such matters.

PAAR, MELIS & ASSOCIATES, P.C.

Enclosure

HOW DOES YOUR SHOP COMPARE?

Number of Shops in Study:

TARGETS

Averages of All Shops 385

REED'S AUTO REPAIR

Average Gross Sales per Month $25k Per Bay $87,132.03

$99,264.40

Labor GP%

60%

57.38%

69.36%

Parts GP%

48%

45.74%

49.93%

Tire GP%

20%

26.03%

10.25%

Service Advisor Cost as % of Sales

$325

$442.09

$608.36

Car Count-Monthly Average

Depends

242

163

Advertising as % of Sales 3.00%

2.74%

2.33%

Rent as % of Sales

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