收益法之現(xiàn)金流的預(yù)測(cè)

第五章收益法－現(xiàn)金流的預(yù)測(cè)第五章收益法－現(xiàn)金流的預(yù)測(cè)第一節(jié)企業(yè)歷史經(jīng)營(yíng)績(jī)效分析第二節(jié)明確預(yù)測(cè)期間現(xiàn)金流預(yù)測(cè)第三節(jié)明確預(yù)測(cè)期后的連續(xù)價(jià)值評(píng)估第一節(jié)企業(yè)歷史經(jīng)營(yíng)績(jī)效分析主要工作在于：財(cái)務(wù)報(bào)表調(diào)整以反映公司的經(jīng)濟(jì)績(jī)效，并非會(huì)計(jì)績(jī)效；衡量和分析企業(yè)價(jià)值創(chuàng)造能力；剖析企業(yè)增長(zhǎng)的源泉；評(píng)估企業(yè)財(cái)務(wù)健康狀況和資本結(jié)構(gòu)以確定企業(yè)的資金需求狀況。第令一據(jù)節(jié)牌企腦業(yè)煉歷戚史盤經(jīng)簽營(yíng)賊績(jī)哪效敗分給析一轟、施財(cái)占務(wù)享報(bào)海表吳調(diào)點(diǎn)整牙與餐經(jīng)常濟(jì)犁績(jī)婦效犬指順標(biāo)集計(jì)錘算績(jī)兆效權(quán)衡頁量父指響標(biāo)權(quán)：栽資紐奉產(chǎn)汪回挎報(bào)賢率仇（景R漠O壁A亦）裂、康權(quán)輸益萄回貝報(bào)架率即（耀R疲O腿E飾）未和榜經(jīng)閘營(yíng)憑現(xiàn)否金搖流轎（澡C聯(lián)F逐O儀）上累述沾指靈標(biāo)忽的相不疏足索：刺與佳經(jīng)趟營(yíng)相無掏關(guān)參的秤項(xiàng)謎目板，冤如騙非散營(yíng)唉業(yè)奪性綠資茶產(chǎn)午和綱資好本感結(jié)慌構(gòu)聰會(huì)造讓甚這止些姨衡貝量區(qū)指主標(biāo)外產(chǎn)段生氧偏鄰差以榴資眼產(chǎn)雞回稱報(bào)由率曲（溫R憐O尚A泛）絮為映例硬說頸明一響、真財(cái)悠務(wù)腔報(bào)落表律調(diào)怨整淺與績(jī)經(jīng)躲濟(jì)把績(jī)延效噴指駕標(biāo)駛計(jì)紀(jì)算（辦一矛）舒投膽入擇資盲本鬧的顧計(jì)史算從籌會(huì)僵計(jì)痰等麻式老“財(cái)資墳產(chǎn)些＝煎負(fù)鋪債疾＋需權(quán)偏益克”初出擦發(fā)出推六導(dǎo)資巨產(chǎn)項(xiàng)主套要喂由時(shí)經(jīng)離營(yíng)盒性濃資攪產(chǎn)進(jìn)（饑O叼A烈）腹組均成汁，左如焰應(yīng)沖收太賬巧款烏、包存夸貨皂和庭不研動(dòng)犁產(chǎn)朗、晶廠怎房齡和顏設(shè)鬧備折（杜P腸P元&寬E努）負(fù)堂債感由摧經(jīng)洗營(yíng)勵(lì)性遙負(fù)剩債咳（歉O芝L秒）漁如既應(yīng)暗付妻賬莊款傾、菜應(yīng)縱付梳工節(jié)資透和列付潔息錄債枯務(wù)焰（煎D捕）也如丘應(yīng)原付竟票靈據(jù)之和羅長(zhǎng)紀(jì)期家借赴款犯組天成權(quán)即益接（賺E腦）循包墾括悅普長(zhǎng)通議股酒，責(zé)可睜能匠有萄優(yōu)盒先超股極和釋留有存回收意益經(jīng)鞋營(yíng)最性恰資索產(chǎn)派=恥經(jīng)折營(yíng)良性竭負(fù)乒債昂+羊付盟息獄債拍務(wù)尚+笛權(quán)燃益經(jīng)勸營(yíng)攻性利資醫(yī)產(chǎn)鐮－菠經(jīng)刺營(yíng)混性板負(fù)料債公=斃投哨入鹽資畝本軋=燃付酬息枕債者務(wù)捎+涼權(quán)性益投艘入愧資祥本年可該以喘從面兩妹個(gè)更角暈度開來艦計(jì)晶算績(jī)：一懸是磁經(jīng)膝營(yíng)劍法蹤蝶，鬧即浸用與經(jīng)韻營(yíng)段性溪資塑產(chǎn)言減疤去矛經(jīng)帥營(yíng)剃性其負(fù)威債外；二須是郊融鋪資肅法底，其即造付建息綱債貴務(wù)洗加令上黎權(quán)盯益思資忍本對(duì)強(qiáng)于柴大時(shí)多教數(shù)忌的雞公舌司綁來婆說抹，絹資引產(chǎn)公不援僅翅包持括拾經(jīng)寇營(yíng)扭性懼資爬產(chǎn)團(tuán)，頓還籠包傅括紐奉非憑經(jīng)綁營(yíng)芒性障資躲產(chǎn)品以府及習(xí)負(fù)竊債襯等生價(jià)將物蜂（默D秋E零）總、賤權(quán)腐益章等幻玉價(jià)伙物苦（額E剪E拐）經(jīng)惑營(yíng)旋性偏資釣產(chǎn)療（娛O擺A體）曬+愿非魚經(jīng)屠營(yíng)雄行冶資壁產(chǎn)紀(jì)（鳴N布O膜A文）=育經(jīng)裝營(yíng)活性砌負(fù)仗債籠（茂O喬L愧）爽+葵有音息括負(fù)究債粒和垃負(fù)獵債鈴等敵價(jià)攻物留（極D醒+肅D尊E錘）猴+境權(quán)模益疏和珠權(quán)炮益禮等盜價(jià)娘物累（堡E容+給E刪E質(zhì)）重扶新猾整胖理擺后瞇，互可昌以受得稻到釣企營(yíng)業(yè)避總猾投抓入多資航金脹的州計(jì)沾算臘公類式允：投碌入劃資回本撕（舅O攜A豪－鴨O竹L帥）幣+國(guó)非占經(jīng)突營(yíng)勵(lì)性凡資啟產(chǎn)跡（撫N貧O和A百）=器總津投趙入滔資害金=猜有李息周負(fù)孤債潮和棵負(fù)櫻債呼等譯價(jià)催物亭（鮮D烈+探D轟E灘）臂+踐權(quán)邀益眨和濕權(quán)群益障等驅(qū)價(jià)火物滑（鑼E仔+纖E蘭E殊）一滑、洋財(cái)粒務(wù)燃報(bào)癥表垮調(diào)哪整薦與浸經(jīng)騎濟(jì)醬績(jī)血效肢指菌標(biāo)露計(jì)豎算（屢二適）牲稅抓后李營(yíng)牢業(yè)書凈駛利榨潤(rùn)瞧（挺N濱O飼P落A把T胳）港的介計(jì)廳算N蹲O棍P基A堤T助說悉明仙了鞠所籃有燦財(cái)師務(wù)詢投野資溫者冷可拌得凳的浸稅串后私總損收射入以，吼是喉由帳投剪入棟資柔本弱所逃產(chǎn)漂生積的均經(jīng)窄營(yíng)姐利紅潤(rùn)瘡的變綜代合生。詠與服凈饑?yán)節(jié)欕s不番同料，韻N槽O姑P楚A夫T顧包肯括版了欲債挎權(quán)熟人糠和壁權(quán)餓益駕投妙資葬者歡的鏈可缸得名利魂潤(rùn)擴(kuò)總姐和近。計(jì)尼算不N江O區(qū)P挨A犁T唇時(shí)觸，嘗要共除族去銹營(yíng)啄業(yè)搏外鞠凈朽收條入功和點(diǎn)由返不壘計(jì)分入鵝投乎入芳資尋本催的獵資赤產(chǎn)診所浸產(chǎn)夫生灣的枕回各報(bào)朽或南損單失根及據(jù)統(tǒng)A沾B劍C須公烘司鍵的亮利司潤(rùn)撇表岸計(jì)蚊算努N娃O名P熊A百T涂和逗投狀資跡者階總綱收夾入酷，欺假燦設(shè)您所籌得拌稅迷稅雞率懲為叮2箏5君％卵。一煙、野財(cái)婆務(wù)宵報(bào)痰表符調(diào)選整訊與動(dòng)經(jīng)災(zāi)濟(jì)下績(jī)介效丈指叼標(biāo)否計(jì)眼算（俊三章）世投新入撒資宰本膏回癢報(bào)曾率誰（徑R故O等I低C拴）與貼企您業(yè)袖財(cái)驢務(wù)猴杠撇桿功無腎關(guān)酒、搭反腿映感企每業(yè)描經(jīng)果營(yíng)瓜績(jī)遣效期的份一調(diào)個(gè)廳重偽要順指悼標(biāo)瘋，幻玉它斑等酸于域稅民后杏營(yíng)來業(yè)悉凈渡利踏潤(rùn)矛除奪以禿投柜入聰資鑼本亞，顆即賠：（趕四喉）章企柄業(yè)命現(xiàn)龜金桌流企教業(yè)欠現(xiàn)召金娘流哄（滑F(xiàn)激C們F轉(zhuǎn)）=佩稅膊后臥營(yíng)屑業(yè)熄凈眉利鳴潤(rùn)蛛（拿N親O敲P六A油T肝）頓＋共折桃舊熊攤娘銷歇－嶺營(yíng)觸運(yùn)孔資玻本桐增戶加卻－出資亭本即性傭支固出企緩業(yè)覆現(xiàn)隸金漠流夾加鼠上孤企典業(yè)野營(yíng)稻業(yè)校外刃現(xiàn)戀金判流著（壟如宗取音得央的供投估資睛收蘇益東，仿對(duì)找外族股涂權(quán)違投斥資源等變）任即予為籃投棵資濁者縮慧可盛得趴的麻總揚(yáng)現(xiàn)殺金譜流很，賴營(yíng)萍業(yè)熟外襖現(xiàn)壁金屬流計(jì)具閥有胞偶飯然衡性綿、斬不旋確賺定則性揭，豈因透此雙，訪在蒜企哲業(yè)忍價(jià)題值筐評(píng)省估街中鐵，癥考頁慮野的沃是鹽企診業(yè)瘋現(xiàn)搜金尼流劫，郵而屬不雹是酒投棚資霸者天總污現(xiàn)戒金揉流招。企弦業(yè)勢(shì)現(xiàn)核金窄流造與省會(huì)遙計(jì)敵現(xiàn)巖金描流華量產(chǎn)表堆所巧反息映的的興當(dāng)揉期返現(xiàn)抵金債流貿(mào)變層化釋額睬（吊以喪下吩簡(jiǎn)扇稱漆會(huì)勉計(jì)床現(xiàn)典金淹流充）從之愉間哈的遵差磁異其迷一驗(yàn)，會(huì)企峰業(yè)岔現(xiàn)開金且流萍針待對(duì)確股據(jù)東滴和解債哈權(quán)苦人永在肯內(nèi)惑的甘所恐有亦投莊資禿者好，泳而籠會(huì)所計(jì)肉現(xiàn)屬金鈴流殘僅什僅享針知對(duì)粉股巡壽東浪；其倘二學(xué)，搶企碎業(yè)廣現(xiàn)市金校流律是誕可鈔以訴自辜由基支邁配打的榜現(xiàn)洞金行流注，村而浪會(huì)圍計(jì)攪現(xiàn)擇金傷流爸反種映蛇了歷股攤息移支思付盒后布剩壺余邁的孤現(xiàn)允金灣流暑；其犁三弓，兵企港業(yè)紅現(xiàn)儉金濟(jì)流腎僅麥僅守是楚與冤企栽業(yè)猶營(yíng)銜業(yè)沃活吸動(dòng)抹相問關(guān)冬的發(fā)現(xiàn)展金騙流鏡，脫不作包障括頭營(yíng)遙業(yè)義外鞭現(xiàn)飯金仆流懷；尺而幅會(huì)蛙計(jì)椒現(xiàn)咐金姓流蝴量鞏既地包降括胸與竄企墾業(yè)磚營(yíng)打業(yè)濁活嘗動(dòng)局相隸關(guān)畫的件現(xiàn)反金血流棄，寫也翠包破括駐營(yíng)歪業(yè)那外收現(xiàn)翅金胸流序。二忙、鬼企箭業(yè)瘡價(jià)滾值根創(chuàng)威造問能黃力匠指結(jié)標(biāo)（祖一暫）撕投儉入雁資抓本乒回晝報(bào)始率稅傳后屯營(yíng)材業(yè)廣凈既利挎潤(rùn)境（機(jī)N涼O嶺P囑A聚T忽）渠和衰投堤入未資振本謀的搖比膀率R峽O褲I大C狀中灘的員稅活后京營(yíng)掌業(yè)穿凈總利稀潤(rùn)民和釀投鑄入打資漢本識(shí)僅杯僅婚關(guān)嗽注震企殺業(yè)拒的勤營(yíng)稼業(yè)畜活奔動(dòng)雹，押而冒不燦考微慮點(diǎn)與水經(jīng)役營(yíng)勸活伴動(dòng)向無征關(guān)臭以軋及耀營(yíng)舞業(yè)切外飼的?，F(xiàn)農(nóng)金略流耀和漫資償本嘆投晝?nèi)胛穑庵庇陆訜带B映規(guī)企兇業(yè)桂的扭經(jīng)舍營(yíng)醋績(jī)庸效壤和碧價(jià)米值野創(chuàng)層造封能念力相汁對(duì)桑于騾凈懸資濾產(chǎn)列收憶益護(hù)率霉（碗R丈O白E趁）傅和回資贈(zèng)產(chǎn)涂回土報(bào)某率喉（電R匯O殺A給）尊來郊說己，竄R燭O司I默C護(hù)是帳衡徐量次企看業(yè)共盈聲利者能喇力外更春準(zhǔn)漫確照的倡一棍個(gè)夸指圓標(biāo)R糠O熟I麻C模指喘標(biāo)蔬的痛分眼解二央、酬企嘴業(yè)御價(jià)棋值本創(chuàng)驅(qū)造它能立力條指拾標(biāo)（幫二噴）撐經(jīng)評(píng)濟(jì)食利火潤(rùn)年份上年當(dāng)年投入資本375425WACC10％10％資本成本總額37.542.5NOPAT180210經(jīng)濟(jì)利潤(rùn)142.5167.5二岔、勿企斜業(yè)慈價(jià)乓值樸創(chuàng)槐造落能吉力顆指筐標(biāo)（崗二兆）捐經(jīng)謠濟(jì)蹤蝶利敞潤(rùn)經(jīng)警濟(jì)伐利敞潤(rùn)謙衡州量師的番是幣一切個(gè)哲公燥司范與肢資素本祖市疏場(chǎng)甘相秧比秩利祝用旦資擺本超后接的玩獲途利件能偷力殊，病這可一殃概陡念洗與行該孫公將司貢股甘票區(qū)的悼市帽值穩(wěn)變抗化透是知不職同辭的堵概終念哭。比青如兇某葬公壞司愧在內(nèi)2根0倍1距0末年沃財(cái)?shù)淠旮＋@墨得右經(jīng)使?jié)浝Z潤(rùn)蜘2旨6毛億憲元?dú)q。榜同廟年滑，懶公帖司閃支雄付唱了擊5溝.陪9財(cái)5諸億堂元筋的顏股憑息句，傻股枕票桃增左值慶2銹6壓4餃億殃元司。棚公爭(zhēng)司壺股鼠東煮的數(shù)總幕回答報(bào)丈為方2芽6姿9榴.旺9塊5厲億極元距，泊比誰經(jīng)絨濟(jì)壺利孩潤(rùn)歸大帆了紀(jì)很艷多經(jīng)斃濟(jì)京利評(píng)潤(rùn)靠衡棍量士了弓歷罰史送賬堤面準(zhǔn)資乏本它在甜一扔年丟中育的坦表弄現(xiàn)爆，乒市拿值訊的甜變社化眠衡剃量炭了季對(duì)者于辰未飯來礙經(jīng)此濟(jì)考利睬潤(rùn)慕預(yù)失期亞的貫變答化三遙、陳現(xiàn)網(wǎng)金速流槍增居長(zhǎng)滴分箭析年份200820092010內(nèi)涵式收益率增長(zhǎng)0.5-1.8-2.9并購(gòu)0.52.15.4剝離0.0-3.30.0貨幣影響-3.9-2.57.0現(xiàn)金流的增長(zhǎng)-2.9-5.59.8三量、鴨現(xiàn)黑金灑流得增銳長(zhǎng)祥分比析（新一紹）殿貨端幣敗匯桌兌沫對(duì)撕現(xiàn)惹金弦流眾的娛影帝響跨爛國(guó)紹公掩司濾在兆多慈個(gè)較國(guó)呼家址從近事叨生償產(chǎn)摔、巷銷俘售善和迅其囑他外經(jīng)退營(yíng)沈活冷動(dòng)辨，跨因訊而膛需坐要窮使護(hù)用航多橫種解貨樸幣潮來疼經(jīng)縣營(yíng)愉業(yè)導(dǎo)務(wù)渾。革在厚每禿一鬧個(gè)勺報(bào)疏告本階院段諷末同期武，惹在重各題國(guó)頭的殺、別以故本黑位輝貨觀幣狼表阻示邁的哥現(xiàn)玩金農(nóng)流逐必騾須毯轉(zhuǎn)何換燥成霸報(bào)弦告煩國(guó)生本日國(guó)蜂的薯貨巨幣什。如妖果戒外炎國(guó)諷貨糕幣想相煌對(duì)料于談本戰(zhàn)國(guó)倦貨繪幣哄升法值華，救這蔬種宣轉(zhuǎn)捐換鍬會(huì)切導(dǎo)警致經(jīng)更懂高浮的雨現(xiàn)癢金惰流均水像平三耐、剖現(xiàn)王金萄流勸增竄長(zhǎng)竿分餐析（私二謀）鄰兼炒并抬和刷收酷購(gòu)收康購(gòu)臨公鴿司雨往變往您只梨將男被杠收啟購(gòu)蕉公咽司罪在鞏收立購(gòu)運(yùn)完舅成驚后牢的減年建現(xiàn)撿金氏流碧部落分激納糊入梁其雷報(bào)暈表（餓三務(wù)）份會(huì)陰計(jì)賄變絹更映和跳非氧?？家?guī)園項(xiàng)稠目物鼻價(jià)兼上跑漲幻玉時(shí)甜期掉，耍企堤業(yè)妙存罷貨紹計(jì)歐價(jià)轟方箭式轟從行“系先山進(jìn)護(hù)先廁出咐法汽”駕變傾更謙為提“傻后羊進(jìn)隙先駝出測(cè)法稿”倍后企荒業(yè)忍繳紛納配的占稅擴(kuò)金竿將窮會(huì)油因僻成必本秤的盛上譜升殃而輕減出少純，氣現(xiàn)我金伴流鉆相禍應(yīng)幼會(huì)盼增幟加第那二刑節(jié)鏟明羨確皺預(yù)掛測(cè)菜期叢間鉆的蔽現(xiàn)迎金譽(yù)流睜預(yù)冶測(cè)一拒、覆現(xiàn)賭金揀流萌預(yù)瓜測(cè)胡的動(dòng)相鼠關(guān)電事禍項(xiàng)（逗一破）強(qiáng)明尚確慌預(yù)努測(cè)唱期科長(zhǎng)憂度貧的靠確魯定推克薦鉤的混預(yù)報(bào)測(cè)梨期賴為前1幣0臉~模1站5現(xiàn)年瀉，型對(duì)斤于周周灘期浮性兆公垂司催或?qū)毟呓窃鲂篱L(zhǎng)過公木司耐可蔑能聰還然要摸更承長(zhǎng)駱一孔些勸，糧一赤般哨將得明憶確遷預(yù)屬測(cè)臭期臣拆姥分廳為兩售個(gè)正階析段：第蹦一敵階般段為殃開撥始量的濾5厘~冤7憂年石，目進(jìn)拜行普詳貼細(xì)牽預(yù)喇測(cè)它，稠做共出記盡技可小能劫與鉆實(shí)忌際餃變隸量區(qū)（拋如頭單支位美數(shù)魯量尾、宿每問單無位久成美本促）至相濫聯(lián)扮系鞋的顫完尺整伙的芝資份產(chǎn)炮負(fù)說債剩表房誠(chéng)、炒損綢益滑表群和蒜現(xiàn)廳金間流品量幫表第吉二缺階徹段為旗明寧確綠預(yù)拍測(cè)臂期號(hào)剩督余旁年榜份紀(jì)，紐奉進(jìn)渣行成簡(jiǎn)職化券預(yù)左測(cè)蹲，竹重漿點(diǎn)荷放碎在師一雨些范重決要爺變致量憂上你，軋如管收撫入灶增耽長(zhǎng)魯、前利本潤(rùn)樸率吹和聚資譜本知周梢轉(zhuǎn)殿率（姓二組）呢現(xiàn)繳金騙流腦預(yù)晨測(cè)劫的趕方驅(qū)法銷撐售月百糕分翅比匯預(yù)渣測(cè)遼法蒙某特窄卡根羅春（謊M況o溫n驗(yàn)t珍e彩C帳a拳r供l躍o絞）粱模株擬盤法會(huì)乓計(jì)娘學(xué)離基胸礎(chǔ)道法一碌、館現(xiàn)需金碧流座預(yù)梳測(cè)板的組相須關(guān)喉事穿項(xiàng)（驅(qū)三識(shí)）協(xié)現(xiàn)牙金約流便預(yù)墾測(cè)指框洲架企征業(yè)持現(xiàn)忠金逢流疫需車要橋計(jì)鼓算賊稅旅后培營(yíng)友業(yè)達(dá)凈貨利裁潤(rùn)或、胃營(yíng)聰運(yùn)蛾資請(qǐng)本央增豪加憂額感、繁資談本斯性瓣支歌出尺等店項(xiàng)廈目待，熟其慣中套，謙稅楚后車營(yíng)宗業(yè)櫻凈金利任潤(rùn)呢是串最豎重味要著也所是短最援復(fù)燭雜奇的師一男個(gè)墊項(xiàng)回目香，畜該登項(xiàng)我目配涉端及屋銷嗚售慈收叛入爺、躬營(yíng)問業(yè)秋成積本磁、耐營(yíng)崇業(yè)雀費(fèi)摟用鼻、俱營(yíng)疤業(yè)攏稅生費(fèi)筍、尼所灶得渠稅掙費(fèi)凱等您。企綱業(yè)囑未站來傍銷扯售憑收輝入京的岔變踏化笑受易外尤部穗環(huán)擺境騰因厭素御和跳企神業(yè)呆內(nèi)屢部溫環(huán)檔境紅因絲式素川共怒同鴉影東響企益業(yè)雁現(xiàn)求金顏流否預(yù)似測(cè)襯框潤(rùn)架二槐、瘡企兄業(yè)教經(jīng)哥營(yíng)擁環(huán)煎境擇分妄析企愉業(yè)祥經(jīng)屠營(yíng)羅環(huán)多境令分摘為三穩(wěn)個(gè)誤層踏次：輸宏流觀峰經(jīng)面濟(jì)園環(huán)習(xí)境羨、墨行斜業(yè)豆發(fā)坐展慈環(huán)殘境館和姜企尚業(yè)菊自覽身走的連微火觀描環(huán)奴境（醉一鳥）雹宏準(zhǔn)觀軍經(jīng)語濟(jì)條環(huán)題境分絕析撤企詳業(yè)創(chuàng)對(duì)愁經(jīng)飛濟(jì)劇周幕期忽波險(xiǎn)動(dòng)數(shù)的蝕敏凱感符程逃度分回析茶宏皆觀妙經(jīng)首濟(jì)晌環(huán)匆境慰因扭素和對(duì)授企漫業(yè)粥經(jīng)伐營(yíng)勝績(jī)則效酷的努影含響中機(jī)也制分愉析鄙宏攝觀憲經(jīng)偷濟(jì)鎖環(huán)貞境的的萌發(fā)格展懶趨撇勢(shì)第喉二溫節(jié)賊明濟(jì)確費(fèi)預(yù)朱測(cè)狼期勻間增的袖現(xiàn)鴿金微流匆預(yù)揭測(cè)二平、殲企瓜業(yè)丸經(jīng)勿營(yíng)晉環(huán)妻境稱分盛析（晶二膜）墨行愿業(yè)舞發(fā)惠展忙環(huán)弓境“滾市級(jí)場(chǎng)守結(jié)稀構(gòu)侵（身S領(lǐng)t鋼r揮u縫c插t氣u桌r識(shí)e田）代－害市詳場(chǎng)裝行餅為結(jié)（懂C濤o耀n掌d諷u識(shí)c乞t須）貸－涉市索場(chǎng)裹績(jī)?yōu)樾пu（腳P搜e永r陜f姜o咸r逆m偶a誓n候c鞠e端）蹦”欠的攜S煎C嗽P現(xiàn)分配析巨模豪式1枝.尚市總場(chǎng)墻結(jié)騎構(gòu)反由映漏了膜市楚場(chǎng)嶄的役集出中針度蛛、位產(chǎn)銳品太差療別詠化堪和鑼進(jìn)以入腿壁辨壘找等襯因臣素叛對(duì)動(dòng)行鑒業(yè)年內(nèi)彎市喘場(chǎng)愁競(jìng)欠爭(zhēng)返程抖度狡、歡價(jià)麻格鄙形應(yīng)成訪、飄企順業(yè)報(bào)獲市利腳空煙間醋等竿產(chǎn)伙生奧戰(zhàn)額略耽性懲影填響2秘.鹽市認(rèn)場(chǎng)畏行允為不章同石市桐場(chǎng)姐結(jié)扭構(gòu)遺中放的灘企皇業(yè)謊有莖不迎同促的水市趣場(chǎng)服行桿為蔑（焦主索要舒是蘿價(jià)趙格陶行帶為世）賓。戚比吊如非在部完溉全沉競(jìng)物爭(zhēng)圣市扮場(chǎng)全上共，拐企疏業(yè)抓是被市架場(chǎng)偷價(jià)脖格財(cái)?shù)母督诱l受杯者院，債任瘡何抽一申個(gè)斜企乏業(yè)腦的靜市邀場(chǎng)偉行畢為聾不隨會(huì)年對(duì)皮其段他藏企在業(yè)磁的獵市扭場(chǎng)討行監(jiān)為薪產(chǎn)供生乓影死響3鼓.擁市次場(chǎng)晶績(jī)嗚效不營(yíng)同豎的陪市辱場(chǎng)指結(jié)爽構(gòu)屑和盾市淡場(chǎng)重行柱為拴有怒不虎同阿的滿資被源笛配丘置閱效宿率辯和蛾不爪同疫的慌企讀業(yè)鈴績(jī)遍效逼水溫平（雀三弱）虛企厘業(yè)腐自既身挽微帳觀皮環(huán)縣境目任的顯：閱為棚了色把犯握閘企蝴業(yè)悲的就市劑場(chǎng)已競(jìng)旨爭(zhēng)欲力可奇以斯運(yùn)舊用疑波殃特漆五吃力第分爬析丹模艱型供和您S河W諒O垃T肺分驗(yàn)析竭?？ㄐ?述.炮波冒特睬五份力模分槽析春模雞型潛在競(jìng)爭(zhēng)者的競(jìng)爭(zhēng)顧客討價(jià)還價(jià)的能力供應(yīng)商討價(jià)還價(jià)能力行業(yè)內(nèi)現(xiàn)在競(jìng)爭(zhēng)者的競(jìng)爭(zhēng)替代品的競(jìng)爭(zhēng)（綢三慕）搞企求業(yè)反自埋身貸微杠觀艘環(huán)免境1復(fù).弱波符特匯五嚴(yán)力累分踩析阻模掀型（約1故）放行跌業(yè)表內(nèi)掌現(xiàn)夕在歷競(jìng)擾爭(zhēng)狼者榴的盼競(jìng)監(jiān)爭(zhēng)（穴2池）融潛蝕在煙競(jìng)闊爭(zhēng)碧者部的勉競(jìng)陷爭(zhēng)錯(cuò)。（傍3禁）莖替販代就品白的牙競(jìng)筐爭(zhēng)（輕4濫）盛供委應(yīng)剝商喪討總價(jià)烈還演價(jià)吳的箱能傘力（攜5畜）眉顧據(jù)客美討具價(jià)稼還狼價(jià)蹲的優(yōu)能慣力（蹄三近）剪企蚊業(yè)寧自露身狂微叨觀監(jiān)環(huán)治境2犧.皮S反W番O矛T蹈分刮析（背1琴）畢機(jī)翁會(huì)嚼與輛威國(guó)脅織分許析致（鉆O披T還）靠。駁企蹈業(yè)尿的項(xiàng)外升部躬環(huán)尊境劉處未于臥不仿斷曲變?yōu)趸渲型?，擴(kuò)外吸部落環(huán)辦境筋發(fā)裕展么趨眨勢(shì)罰分乏為執(zhí)兩頸大盈類交：漲一增類勢(shì)是余環(huán)贏境槽威踐脅消，駱另莊一犯類矛是宋環(huán)輛境跌機(jī)皆會(huì)（耕2螺）裕優(yōu)喇勢(shì)婦與某劣湖勢(shì)京分傻析婦（鄰S椒W水）宅：飛與娛競(jìng)逢?duì)幰藢?duì)轟手象的幕比皂較已，近才狐能坑發(fā)跟現(xiàn)顏企殺業(yè)饒的奮優(yōu)濫勢(shì)悼以地及紛薄袍弱政環(huán)仇節(jié)劈燕在稍哪鄭里三色、身現(xiàn)凡金菠流蓄預(yù)皺測(cè)鞭過縣程（員一甚）挎銷訂售查收蒙入副預(yù)印測(cè)兩晴種訪方溫法：腿自掉上穩(wěn)而篩下鹽法效和淺自搜下補(bǔ)而帆上翅法自議上芒而挑下吐法笛：植預(yù)浴測(cè)扔市害場(chǎng)裹總濕量層的刃大懂小興，傷確曲定麥被滅評(píng)癥估劑企榨業(yè)棚的跳市訴場(chǎng)論份籌額隱，奔然餓后星預(yù)絨測(cè)熟產(chǎn)皂品君價(jià)益格緩來上預(yù)睬測(cè)槍銷冠售赤收揪入自燦下伏而輪上挎法煩：秒根混據(jù)驕企含業(yè)不已希有雄客掘戶號(hào)的款需摔求拼、睡客跑戶爪流捉失求率纏和國(guó)潛畏在敗新喜客層戶杏數(shù)漠量莖來眨進(jìn)珠行楊銷太售激收藏入層的拼預(yù)基測(cè)無麥論辮哪俘一修種贈(zèng)方康法鐮，柜收華入毅預(yù)震測(cè)嗓都戚應(yīng)坑該奴與河歷脅史傅增衣長(zhǎng)貧數(shù)椒據(jù)聾保版持孟一例致鋸，吼如竊果執(zhí)變斑化舒趨奶勢(shì)泥發(fā)育生鉤改黑變腳的蝴話叮，風(fēng)則端需稀要谷有吐充探分罰的點(diǎn)依惹據(jù)第雀二態(tài)節(jié)尤明付確抄預(yù)滅測(cè)脅期或間步的通現(xiàn)廣金困流潔預(yù)綿測(cè)三蠟、膊現(xiàn)凈金鍛流惑預(yù)工測(cè)嫌過遺程（減二讓）頓利厘潤(rùn)芝表寒相貿(mào)關(guān)伏項(xiàng)挖目知預(yù)駕測(cè)1標(biāo).座預(yù)熔測(cè)藥步行驟第碎一克步，犧明籍確故各柴項(xiàng)王目漢背件后革的法經(jīng)津濟(jì)丑驅(qū)親動(dòng)胞因嘉素第撐二裙步，兵估息計(jì)事預(yù)掃測(cè)詠比拔率第爭(zhēng)三若步，古將犯預(yù)摟測(cè)優(yōu)比園率溝與繪驅(qū)罰動(dòng)腥因忌素訓(xùn)估院計(jì)鈔值柱相貌乘銷類售粗成安本賠的凝預(yù)臘測(cè)山步鹽驟利丈潤(rùn)半表誕中噸的醬預(yù)養(yǎng)測(cè)雹驅(qū)咳動(dòng)僑因旅素預(yù)測(cè)項(xiàng)目預(yù)測(cè)驅(qū)動(dòng)因素預(yù)測(cè)比率經(jīng)營(yíng)銷售成本（COGS）銷售收入COGS/銷售收入營(yíng)業(yè)稅金銷售收入營(yíng)業(yè)稅金/銷售收入銷售費(fèi)用、管理費(fèi)用（SG&A）銷售收入SG&A/銷售收入折舊上年固定資產(chǎn)（PP&E）凈值折舊/PP&E凈值非經(jīng)營(yíng)非經(jīng)營(yíng)收入非經(jīng)營(yíng)收入/非經(jīng)營(yíng)資產(chǎn)或非經(jīng)營(yíng)收入增長(zhǎng)率利息費(fèi)用前一年的總債務(wù)利息費(fèi)用(t)/總債務(wù)(t-1)利息回報(bào)前一年的富余現(xiàn)金利息回報(bào)(t)/富余現(xiàn)金(t-1)（施二咐）清利援潤(rùn)支表皇相褲關(guān)梯項(xiàng)統(tǒng)目閥預(yù)疲測(cè)2摩.消經(jīng)暖營(yíng)掉成蘋本月與瘦經(jīng)侄營(yíng)舟稅權(quán)費(fèi)唱預(yù)叔測(cè)利另潤(rùn)宰表件中奴經(jīng)眨營(yíng)跳成從本職、愧經(jīng)縱營(yíng)船稅艙費(fèi)鏟以列及個(gè)研彼發(fā)勻費(fèi)發(fā)用沸的亡預(yù)也測(cè)飼均鼻建凱立峽在決銷姑售喪收網(wǎng)入緒預(yù)篩測(cè)蟲基途礎(chǔ)蝕之號(hào)上一隊(duì)般肯情禾況滑下球，介這無些止項(xiàng)鑄目傻是憐直濤接茂根談?chuàng)軞v餡史禍的犧比舍率獵加堅(jiān)以肅調(diào)德整輪，播但鏈?zhǔn)墙撸┯删S于庭會(huì)勸計(jì)鎮(zhèn)人役員桿有棍時(shí)奔會(huì)益將靠某撞些吩非線經(jīng)陷營(yíng)湊性講項(xiàng)田目鼻也諒加潔到袍經(jīng)程營(yíng)布費(fèi)歡用刊之儉中蠻，疾因肢此率在舅計(jì)睬算記歷展史腸比沉率就時(shí)南應(yīng)朋將市非稠經(jīng)分營(yíng)另性暑項(xiàng)窄目有排忌除班在據(jù)外（孩二姻）橡利演潤(rùn)涂表匯相晚關(guān)孫項(xiàng)湖目飽預(yù)爺測(cè)3資.扎折盞舊嬌預(yù)桶測(cè)三蚊種稀方朵法修：其智一牛是晨將周銷罪售尤收扔入旨作谷為滋折眨舊仗的夜驅(qū)孤動(dòng)孔因汪素駱，邪按養(yǎng)照為折樣舊此與懸銷目售認(rèn)收籮入叨之唯間判的兄比授率朋進(jìn)拜行鹿預(yù)獻(xiàn)測(cè)恭，其貓二舍是料將貴不疫動(dòng)慌產(chǎn)饞、華廠櫻房眠和亦設(shè)總備設(shè)（吩P手P忍&田E功）去等乎固朱定艇資秩產(chǎn)智作紫為丈折變舊渣的露驅(qū)脂動(dòng)條因捷素啊，酬按曉照困兩控者蝦之承間跡的示比云率觀進(jìn)鐘行屈預(yù)在測(cè)其跟三傷是僚按戒照父企真業(yè)最設(shè)嚷備該購(gòu)銷買尸和咬折養(yǎng)舊沈計(jì)疲劃帶進(jìn)無行錘預(yù)判測(cè)三女種寫方氧法著如爐何寒選券擇援：如布果濃企帝業(yè)每折扁舊劇費(fèi)臂用蠶比評(píng)較雀平良滑變，爛可鑰以免選報(bào)擇孟第怒一豎種稈或毛第蛇二掘種座方燈法框，驢但福如田果悄折踩舊摩費(fèi)休用耽波熊動(dòng)振較仗大貫，鵲則創(chuàng)不沸宜進(jìn)選湊擇禾第止一菌種狼方傘法判，肉而膽應(yīng)節(jié)該女使蓬用捉第敗二隙種辭方布法箱，呢將嘆不貼動(dòng)衰產(chǎn)渠、招廠勵(lì)房橫和客設(shè)輛備列（燥P梳P局&蝴E羨）籃作蚊為峰預(yù)種測(cè)蕉驅(qū)早動(dòng)息因膀素當(dāng)絮用喪不光動(dòng)誘產(chǎn)域、趁廠胖房乞和隔設(shè)蔽備滿（插P慢P坐&煮E匪）閣等染固填定挺資道產(chǎn)婆作騾為川預(yù)亞測(cè)膠驅(qū)據(jù)動(dòng)骨因竊素步時(shí)光，腥通括常炮是琴將回折安舊糊與訂固韻定乎資舊產(chǎn)凈請(qǐng)值聯(lián)秤系細(xì)起矮來如傻果胸能六得變到寫企胡業(yè)紫固皮定餓資慘產(chǎn)鹿購(gòu)狐置惰和僵折賴舊蘿計(jì)憤劃碰，攔則億可界以當(dāng)采序用嚇第療三沫中敗方威法悄來距預(yù)繼測(cè)啟折密舊進(jìn)費(fèi)乓用（來二呼）個(gè)利優(yōu)潤(rùn)可表銷相瞞關(guān)闖項(xiàng)君目題預(yù)沸測(cè)4膽.昏非級(jí)經(jīng)扇營(yíng)棚收昏入唐預(yù)跳測(cè)非岔經(jīng)找營(yíng)焰收豈入晨是籠由溫非港經(jīng)撒營(yíng)歪資簽產(chǎn)追（啞如革客紫戶印融宋資徐、匆非鞏合序并錢的組子困公六司邪和機(jī)其旨他功股庸權(quán)則投斜資綱）嗽產(chǎn)步生齊的對(duì)銳于踩母?jìng)愎胨玖鴵沓Ｓ杏牡降唾|(zhì)于刪2旬0輩%壺的劑投椒資詢，獎(jiǎng)通叫過當(dāng)考畝查湯非紛經(jīng)芝營(yíng)黃收犯入威的摸歷帝史秩增極長(zhǎng)車或御公韻開蕩交顛易脆的鼻可北比有資鎮(zhèn)產(chǎn)撒（禁可腐比愈的元股隨權(quán)皺投抗資漫）昌的犬預(yù)畫測(cè)色收鎮(zhèn)入木和俗利尊潤(rùn)雖值府來嚼估緞?dòng)?jì)局未廊來團(tuán)的園非些經(jīng)意營(yíng)共收承入對(duì)臉于些股觀權(quán)疲份躬額躺高痰于管2浙0緩%印的潛非滔合剩并謙子陜公腔司腔，匪用酷預(yù)縮慧期敘非恒經(jīng)川營(yíng)策回獲報(bào)編增征長(zhǎng)酷率叼或者者嗚根氏據(jù)浴子潮公鴨司優(yōu)所卷在劃行擺業(yè)次動(dòng)謎態(tài)襖和庸競(jìng)復(fù)爭(zhēng)尤格撿局脈用鐮預(yù)憑期栽股掌權(quán)盜回盜報(bào)巖率聲來稅估盡計(jì)腔未斤來發(fā)預(yù)度期個(gè)回匪報(bào)（槐二理）絹利能潤(rùn)脊表城相侄關(guān)誕項(xiàng)拜目攏預(yù)鞏測(cè)5識(shí).亭利憶息慕費(fèi)猜用冶和學(xué)利傲息呼收鳴入句預(yù)倆測(cè)利關(guān)息妙費(fèi)寫用非（座收且入溜）珍應(yīng)券該飼與紅產(chǎn)幟生鴉費(fèi)次用爽（暗收日入?。┐拿刎?fù)趴債約（宮資蹤蝶產(chǎn)賄）棒聯(lián)避系避在訂一圖起使邀用態(tài)歷孫史才利畜息籌率愁來暖預(yù)拳測(cè)膜利古息紙費(fèi)閃用誦是沃一蘆個(gè)緩簡(jiǎn)剛單膜、屬直能接襯的勵(lì)估戲計(jì)陰方良法負(fù)顫債黑和腎利反息嘩費(fèi)廁用邁分后為仍兩胡類嘩：對(duì)已紛有碗負(fù)悠債靠及萄其走利浴息亂費(fèi)肺用防、炸新臟增呆負(fù)撞債塞及徹其躁利換息被費(fèi)胃用睛。碗一購(gòu)直撥到慌償孫還先前理，支已探有稿債赤務(wù)羊都貼會(huì)吸以隆歷叛史鋒利隱率邀產(chǎn)牲生驅(qū)利船息喇；畝相偏反蛙，測(cè)新封增暖負(fù)企債鴉產(chǎn)惠生上的縣利挺息很費(fèi)飼用圾會(huì)修與雙市蹄場(chǎng)桿利桶率勵(lì)相武一革致同蠢樣嫂，儲(chǔ)可葉根寸據(jù)逆能漿產(chǎn)鬧生炸回思報(bào)冊(cè)的拉資晝產(chǎn)安估衣計(jì)利肚息湯回個(gè)報(bào)（鉛二欣）桿利肥潤(rùn)染表親相泳關(guān)嗽項(xiàng)才目辣預(yù)扯測(cè)6賺.層所材得恐稅撿預(yù)嗎測(cè)所丑得皂稅咬的橡簡(jiǎn)吵單純預(yù)鴿測(cè)揉方炎法風(fēng)是激用混稅預(yù)前者回競(jìng)報(bào)沈的媽一罰定艙百揪分咐比脊來欺進(jìn)燃行膚估巾計(jì)但鬼在栽許吳多儲(chǔ)情叨況壟下反，杯由直于盞企剃業(yè)背可份能閥會(huì)曾享鏈?zhǔn)軕俚较６愑率諝垉?yōu)繡惠該，艙企遼業(yè)叔的冊(cè)平珍均你所走得濾稅返稅櫻率紹并瓣不徹等遺于掛其旬邊隸際查稅再率評(píng)思估興人并員搞需雞要輔根駝?chuàng)T企斬業(yè)旁稅遺收遙優(yōu)廚惠脊情抗況壩，兩合撥理浴確幅定恰所倘得廉稅解稅狠率三藍(lán)、災(zāi)現(xiàn)快金妻流磁預(yù)嫁測(cè)乓過晃程（胳三艦）劍資懂產(chǎn)線負(fù)慘債椅表防相匹關(guān)怕項(xiàng)跡目輸預(yù)看測(cè)主否要承是裂預(yù)杠測(cè)課投椒入迫資適本伍和侄非炎經(jīng)洪營(yíng)愛資席產(chǎn)板，內(nèi)包念括架預(yù)賢測(cè)蘇營(yíng)圾運(yùn)仆資奪本止，她不店動(dòng)腸產(chǎn)槳、壤廠雅房濁和根設(shè)取備骨凈棄值某等首吧先咬需遲要雄解談決戀的監(jiān)問攻題渴是抬，搖應(yīng)堵該叼直延接寨預(yù)封測(cè)渠資卸產(chǎn)銅負(fù)休債直表父中麻相救關(guān)厘項(xiàng)呀目皮的存限量，轟還杜是寺間襪接晚預(yù)住測(cè)變羊化物量欠（衰流井量富）例搜如澆，投對(duì)柱應(yīng)尺收糞賬企款須的吧預(yù)其測(cè)故，畢存概量版法納將和年姜末披應(yīng)魚收汽賬至款耽作訓(xùn)為報(bào)銷習(xí)售新收校入躍的各函全數(shù)籌進(jìn)膀行揪預(yù)慢測(cè)波，灣而羨流齊量僵法夕將袖應(yīng)專收蛾賬饞款熟的甚變儉化卻量專作堂為窄銷確售消收坡入翅變盡化陜量蹲的撓函仰數(shù)郵進(jìn)要行茄預(yù)另測(cè)挺。評(píng)循估包實(shí)成踐努中字，一經(jīng)般就采壩用化存媽量傷法資蠟產(chǎn)采負(fù)譜債棕表脊中勇的飼預(yù)娛測(cè)盯驅(qū)并動(dòng)菠因?qū)Ｋ仡A(yù)測(cè)項(xiàng)目預(yù)測(cè)驅(qū)動(dòng)因素預(yù)測(cè)比率經(jīng)營(yíng)應(yīng)收賬款銷售收入應(yīng)收賬款/銷售收入存貨COGS存貨/COGS應(yīng)付賬款COGS應(yīng)付賬款/COGS應(yīng)計(jì)費(fèi)用銷售收入應(yīng)計(jì)費(fèi)用/銷售收入PP&E凈值銷售收入PP&E凈值/銷售收入商譽(yù)確認(rèn)的銷售收入商譽(yù)/確認(rèn)的銷售收入非經(jīng)營(yíng)非經(jīng)營(yíng)資產(chǎn)無非經(jīng)營(yíng)性資產(chǎn)增長(zhǎng)率遞延稅項(xiàng)調(diào)整稅項(xiàng)遞延稅項(xiàng)/調(diào)整稅項(xiàng)（已三冰）骨資句產(chǎn)甩負(fù)噴債刪表御相制關(guān)靠項(xiàng)邀目綱預(yù)便測(cè)1商.蓬營(yíng)躲運(yùn)蔥資參本估預(yù)始測(cè)營(yíng)咸運(yùn)詢資西本腫預(yù)兩測(cè)倒開樓始駝，薯包催括鏈應(yīng)絨收撇賬竿款巧、盯存革貨賄、摘應(yīng)組付啦賬模款汽和而應(yīng)執(zhí)計(jì)匹費(fèi)嫌用涌等不遠(yuǎn)包餡括忠任趨何堤非普經(jīng)施營(yíng)叼性索項(xiàng)狼目餐，蔬如慣富礙余鑼現(xiàn)研金洗（禍經(jīng)具營(yíng)丙業(yè)摘?jiǎng)?wù)本所辱不眉需資要嚼的名現(xiàn)恥金碗）態(tài)、乘短壞期革負(fù)茫債易和令應(yīng)鳥付戴股鉆息多惠數(shù)淹項(xiàng)委目尿是玩以潤(rùn)銷拋售槽收牢入搞作渴為序驅(qū)科動(dòng)梅因隆素樹，招但太存霞貨次和尖應(yīng)悠付六賬令款倆是盾例紫外厲，止當(dāng)壟然子，幻玉為多簡(jiǎn)診化艱起儉見澇，耍評(píng)許估羞實(shí)良踐溉中龍也菜常青用死銷貞售紗收納入浙作軌為生驅(qū)斜動(dòng)勁因盆素以謹(jǐn)現(xiàn)南金駝為她例棟，結(jié)2粗0腫1疤0獅年步的蘋現(xiàn)建金挑為犁5津百饅萬捧元瞞，挪年哥銷演售星收跪入投為膏2淺.績(jī)4所億狐元漂，它預(yù)暫測(cè)洲的死2轎0澤1帥1掌年釋銷理售傅收溪入舒為作2邊8歷8腐百誼萬土元鑄，極則咱預(yù)輩測(cè)奧的膝2凝0架1燃1聞年傳現(xiàn)辯金巾為協(xié)：5÷?。ㄋ?巖4飯0÷貝3蹄6拜5從）賊＝軍7毫.簡(jiǎn)6踢（他天窄）（瞎2品8何8斯÷氣3亡6罪5修）雁×國(guó)7修.糧6擠＝翁6肥.刃0撿（惡百呼萬虹元鄙）或盟：2課8剛8述×量（袋5÷2摔4不0渠）潤(rùn)＝6爸.糕0愛（左百粱萬慮元福）2固.視不墨動(dòng)剖產(chǎn)河、掩廠湯房愈和槐設(shè)刑備贊等司固援定咬資野產(chǎn)傭預(yù)答測(cè)P昏P敏&晚E斤凈展值史一唯般薪是園以星銷取售魂收遺入黎的答一小個(gè)純百綿分漢比玻進(jìn)河行驚預(yù)逮測(cè)3棍.拖非粱經(jīng)箏營(yíng)脊資黎產(chǎn)引、知負(fù)覺債繩和窮股舊權(quán)掉等抹價(jià)牲物依預(yù)喊測(cè)相鹿對(duì)滿來競(jìng)說拾比廣較馳復(fù)橡雜對(duì)挎非捆合華并押子五公轎司至和液其火他盜股察權(quán)薄投喂資積的勇預(yù)乳測(cè)剛（漲估述值擔(dān)）庸需降要?jiǎng)裰?jǐn)份慎揀。爸企綁業(yè)物對(duì)確外羽股貍權(quán)和投炸資犧等淡非紡經(jīng)換營(yíng)惡資傾產(chǎn)嫂經(jīng)睡常柿以漠激鄰變副的帶形伐式揉增聾加側(cè)，陵與悄企課業(yè)陵銷蘆售弓收怨入士毫工不旁相午關(guān)搜，踏在緣瑞預(yù)寫測(cè)損時(shí)指應(yīng)訪參賴照足歷鎖史捕先什例卸決墊定庫合送適悲的厚增碎長(zhǎng)把水植平關(guān)偽于金遞腥延菜稅濫項(xiàng)葛，虜大箱多彼數(shù)像情物況收下突，勉通對(duì)過軟計(jì)傅算慣遞眠延四稅掙收汁在犯總巡壽稅亭收驅(qū)中景可女能粒占但的杏比贏例渴來壯預(yù)變測(cè)妄遞它延鄰稅釋項(xiàng)4紀(jì).滔投薯資促者偷資輪金莖預(yù)糧測(cè)首補(bǔ)先鎖，直根曲據(jù)鮮會(huì)溉計(jì)鹿余北額掃結(jié)喇清蒙原克則略有女：當(dāng)朵期碧留樂存離收果益確＝獅上桌期循留識(shí)存識(shí)收稈益父＋攤稅均后封凈客利貪潤(rùn)死－忙股因息誕支臨付至榜此鴉，事還娛剩慣5挺個(gè)漸項(xiàng)億目燦需胃要駕預(yù)爛測(cè)彩：冒富市余中現(xiàn)脊金拖、奴短環(huán)期順負(fù)搖債燦、難長(zhǎng)鎮(zhèn)期買負(fù)漆債宇、張一仁個(gè)娃名語為滋“寬新慎發(fā)夠債瓣”湊的棕項(xiàng)諸目金及仁普呆通質(zhì)股在勵(lì)簡(jiǎn)華單舒的茄模嚷型南中婦，膛假孤設(shè)鉤普蘿通傭股看不嫌變辯，藏已響有某負(fù)言債丙不怪變憤或臭按駝規(guī)晨定晃年鵝限塔清援償妻。為感完姻成蚊資敵產(chǎn)營(yíng)負(fù)歇債暢表尊，御將通余旦下陡的嚴(yán)兩籍個(gè)黎分掙項(xiàng)鉗（臟富惰余現(xiàn)樣金和午新喝發(fā)昆債融）組之玩一民設(shè)擔(dān)為銅0趟。乒然塘后積，及利銅用竭基礦本轎會(huì)駛計(jì)煮等遙式尸“興資落產(chǎn)塊等塔于它負(fù)勤債隆加勾股玻東其權(quán)尊益坐”斯來仰對(duì)廚余辰下級(jí)的秀項(xiàng)申目還進(jìn)置行倆預(yù)濱測(cè)犬。當(dāng)投資戴產(chǎn)占（士不峰包馳括拘富括余鄭現(xiàn)撥金棚）歡超泡過催負(fù)蜻債梯（嬌不疏包客括谷新狐發(fā)刑債敞）研加仙股當(dāng)東響權(quán)小益遮時(shí)俯，緩將臣富樓余贈(zèng)現(xiàn)慕金晚設(shè)喂為孫0拒，歪新容發(fā)彩債曲為飾兩晉者康差噴額相蜻反放，販則腹將沾新躬發(fā)捏債丑設(shè)居為踩0艙，機(jī)富確余癢資壘金幼為必兩腐者斥差白額拐。5藥.欲計(jì)狼算膠投澤入朽資飲本桌回愈報(bào)販率傾（癢R眼O蔑I便C創(chuàng)）業(yè)和爽企產(chǎn)業(yè)瘋現(xiàn)陸金散流哨（達(dá)F乳C踩F譯F?。┩憵v彼史勸R娘O膏I佛C館和朗F同C境F巖F緣瑞的墓計(jì)州算預(yù)矩測(cè)少的貿(mào)R千O模I細(xì)C腳結(jié)覺果壩應(yīng)蟻該習(xí)與搭歷晴史云績(jī)鞠效義分摩析孕結(jié)彩果搬相搭一澤致未洲來鉛的邊R日O造I翁C目應(yīng)叮該肅符燭合弟三尿種替趨易勢(shì)共之繞一想：R童O災(zāi)I右C嘩保訂持銳當(dāng)僅前源水裂平叮，或克趨煌向撕于老行蛇業(yè)閱或密經(jīng)斷濟(jì)配平狹均巖值繩，或槐趨懲向建于龍資錦本猾成碧本犯。評(píng)再估衣人混員杜需問要齡通弦過償深囑入貼分勉析仍來鄰決鴿定掘究慢竟黃選梁擇貪哪忌一串種貿(mào)發(fā)婆展蘿趨擾勢(shì)第倚三駛節(jié)訂明井確線預(yù)糟測(cè)到期但后跡的憶連狹續(xù)技價(jià)鳥值糠評(píng)乏估明艘確至預(yù)吉測(cè)陳期竊后話的純現(xiàn)層金嬸流袍價(jià)綁值并也嚷稱幸為款連忙續(xù)舞價(jià)序值（丑C版o檢n目t克i兔n磁u鐘i穩(wěn)n諷g饅V苗a順l好u訊e竹，保C收V照）遷，常拔用炮的撿連暢續(xù)施價(jià)亂值諷評(píng)減估尋模毛型添有賤：榆穩(wěn)殺定石增全長(zhǎng)辦模府型適、浩價(jià)住值股驅(qū)怠動(dòng)并因射素槐模震型抽、曬價(jià)剩值遣乘私數(shù)形模魄型斃等一垃、準(zhǔn)穩(wěn)浮定纏增倦長(zhǎng)垮模恐型（錫一映）賭穩(wěn)和定淹增棉長(zhǎng)得模怎型鏈的敗一頓般館形吼式第低三葡節(jié)摘明駕確曾預(yù)疫測(cè)含期碧后耳的煌連撤續(xù)揭價(jià)歲值騰評(píng)晴估一跌、太穩(wěn)泊定咐增走長(zhǎng)狂模飄型（肚一偷）幟穩(wěn)宿定閥增畢長(zhǎng)床模必型雷的埋一壘般窩形扮式連疏續(xù)濕價(jià)對(duì)值絡(luò)現(xiàn)肌值封（卵P辭V坑C竭V似）叫為資：適熊用信于那軋些勿在孫明怨確伸預(yù)圾測(cè)作期麥結(jié)麗束躁時(shí)隔已數(shù)經(jīng)消進(jìn)燈行透了斯充向分規(guī)固促定肯資蟻產(chǎn)融投撒資桶，衰生坊產(chǎn)桃能如力鋼接擾近骨或夠達(dá)掀到惹設(shè)召計(jì)背要跪求件，宮明寨確絕預(yù)密測(cè)正期寨后娛銷淺售窮收攏入蠻和瘦現(xiàn)裙金惑流突增公長(zhǎng)利依蘭賴半于促設(shè)跳備仁技恢術(shù)勸改悠進(jìn)支、貿(mào)操吉作走效歇率右提嶼高慈、小管攪?yán)碛沦|(zhì)廚量船改嫌善小的云企材業(yè)（招二音）川穩(wěn)鉗定緊增男長(zhǎng)露的涉擴(kuò)厭展樸模餡型在輩明嚼確怖預(yù)縮慧測(cè)稈期淚結(jié)剛束種時(shí)滲，糧現(xiàn)匹金掌流鼠仍稍然抓保帳持怎較腥高該的瞇增慢長(zhǎng)脹率濱，友而蓄在策永促