Sonic 2009 Annual Report Download - page 50

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The Board of Directors and Stockholders of Sonic Corp.
We have audited the accompanying consolidated balance sheets of Sonic Corp. as of August 31, 2009 and 2008, and the related
consolidated statements of income, stockholders’ deficit, and cash flows for each of the three years in the period ended August 31, 2009.
These financial statements are the responsibility of the company’s management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free
of material misstatement.An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position
of Sonic Corp. at August 31, 2009 and 2008, and the consolidated results of their operations and their cash flows for each of the three
years in the period ended August 31, 2009, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the
effectiveness of Sonic Corp.’s internal control over financial reporting as of August 31, 2009, based on criteria established in Internal
Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated
October 29, 2009, expressed an unqualified opinion thereon.
As discussed in Note 12 to the consolidated financial statements, in fiscal year 2008 the company adopted Financial Accounting
Standards Board Interpretation No. 48 “Accounting for Uncertainty in Income Taxes.”
Oklahoma City, Oklahoma
October 29, 2009
Report of Independent Registered Public Accounting Firm
48