The board of directors of Cook Industries Incorporated $($a nonissuer$)$ engaged Brown & Brown, CPAs, to audit the financial statements for the year ended December $31,2023.$

Independent Auditor$$s Report

To the President of Cook Industries Incorporated:

Report on the Audit of the Financial Statements

Opinion

We have audited the financial statements of Cook Industries, Incorporated as of December $31,2023,$ and the related notes to the financial statements. We conducted our audit in accordance with auditing standards generally accepted in the United States of America $($GAAS$).$ Our responsibilities under those standards are further described in the Auditor$$s Responsibilities for the Audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Cook Industries Incorporated as of December $31,2023,$ and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Adverse Opinion

As discussed in Note G to the financial statements, the Company carries its property and equipment at appraisal values and provides depreciation on the basis of such values. Furthermore, the Company does not provide for income taxes with respect to differences between financial income and taxable Income arising from the use, for income tax purposes, of the installment method of reporting gross profit from certain types of sales.

Auditor$$s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor$$s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if$,$ individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users made on the basis of these financial statements.

In performing an audit in accordance with GAAS, we:

$[$Standard report language on professional judgment and skepticism, risks of misstatement, internal control, accounting policies and estimates, and going concern$]$

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control$-$related matters that we identified during the audit.

Brown & Brown, CPAs

Los Angeles, CA

March $14,2024$

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