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o. 02 La 3lusión, S.A. de C.. Balances comparativos AC3O C3RCULA E 6 c c ! c$ c c ! c c c c & c 1 cc c 1 c#c* c otal Activo Circulantec O C3RCULA E / c 4 c c $ c c 4 c - 8 c c $ c c- 8 c -* c#c8c c4 c c $ c c-* c#c 8c c4 c 8c c c c $ c c8c c c : c c c $' c $ c c : c c c c $' c $ c c c - c1 c $' c $ c c$ c 1 c OAL o Circulantec OAL AC3Oc PAS3O A CORO PLAO c c c !&cc 1 c /cc 1 c c* c c c c OAL PAS3O A CORO PLAOc A LARGO PLAO c: c =* 1 cc c OAL PAS3O A LARGO PLAOc OAL PAS3Oc CAP3AL CO ABLE c c c c4 c $ c c c
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Las notas que se adjuntan forman parte integrante del presente Estado Financiero. Formulado por: Contador General
Autorizado por Administrador General
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Las notas que se adjuntan forman parte integrante del presente Estado Financiero. Formulado por: Contador General
Autorizado por Administrador General
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Cía. Jesu S.A. de C.. Balances comparativos AC3O C3RCULA E 4c ! c$ c cc* c ! c 1 c cc ! c c 1c 'c OAL AC3O C3RULA E AC3O O C3RCULA E / c 4 c c $ c c 4 c 8cc c $ c c8c OAL AC3O O C3RCULA E OAL AC3O PAS3O A CORO PLAO c !$ cc 1 c OAL PAS3O A CORO PLAO PAS3O A LARGO PLAO K cc 1 c =* 1 cc c OAL PAS3O A LARGO PLAO OAL PAS3O CAP3AL CO ABLE CAP3AL CO R3BU3DO c$Hc $ cc c$Hcc OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c c & cD1 c & c c c c c6c OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
2010 G> ,,c ,c ">",,c , >,,c >% ,c %,>,,,c G(> ,c c ,>,,,c +,>,,,c 9 >,,,,,,c 9(,>% , ,c G +> ,,c c > ,,c ">,,,c G(> ,,c c ,c ,,>,,,c G,,>,,,c G(> ,,c c c %,>,,,c >,,,c G, >,,,c c ">,,,c ,>,,,c ,>,,,c ,>,,,c G>,,,c G">,,,c G +> ,,c
2011 %> ,,c > ,c +>+,,c ,>,,,c > ,c ,c G >+,,c c >,,,c ( >,,,c 9",> ,, ,,c 9, >,,",,c G"+"> ,,c c > ,,c >,,,c G > ,,c c (,>,,,c ,>,,,c G,>,,,c G(> ,,c c c +,>,,,c >,,,c G>,,,c c ("> ,,c > ,,c >,,,c (>,,,c G%+>,,,c G>,,,c G"+"> ,,c
ariación Efectos +/G/U >,,,c 7c > ,c 7c 9">%,,",,c c ,,c c 9%,>,,,,,,c c + >,,,c c %> ,,c c %> ,,c c >" ,c c c c c c c c 9>,,,,,,c 7c c c c c (,>,,,c 7c 9 ,>,,,,,,c 7c (>,,,c 7c c c c c > ,,c 7c > ,,c )c >,,,c )c (>,,,c )c c c c c c c
Clave de Actividad O/F/3 c c =c =c =c !c c c !c !c c !c c c c c =c =c c c c c c c c c c c c c c c c c c c c c
OAS AD3C3O ALES c c c
D c1 c1 c #c c c6ccG> ,c c4H c c c c c c 1c 'ccG%,>,,,c c 4ccc c cG+ >,,,c#ccccG >,,,c4c 8 c$ cc 1c
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CEDULA DE AR3AC3O ES
? cc c c c4cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccG>,,,ccccccccccccccccccccccccccccccccccccccccccccccccc ? cc c c c c$ cccccccccccccccccccccccccccccccccccccccccccccccccccccccc > ,c c
!$c c4c c c ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccG"(> ,c c
CEDULA PARA DEERM3 AR LOS D33DE DOS PAGADOS c c6c,,cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccG,>,,,c ? cc c c c c ccccccccccccccccccccccccccccccccG >,,,c ? cc c c c c 1 ccccccccccccccccccccccccccccccccccccccccccccccc> ,,c ? cc c c c c c cccccccccccccccccccccccccccccccc>,,,c c / c c cc ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc,>,,,c c
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Cía. Jesu SA DE C Estado de Cambios en la Situación Financiera del 01 de Enero al 31 de Diciembre del 2011 OPERAC3 :
c) 2G(>,,,c c c c c8cc8c c ' c c cc42c 2> ,cccccccccccccccccccccccccccccccccccccc cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc%,> ,c c =&!7!)cIcD!!J)c c&/! c c=&!J)2c $cc cc* ">%,,c $cc! 9>",,,,,,,,ccccccccccccccc9c>,,,,,cc $cc=* 1 9 ,>,,,,,,c $cc$ cc c$H(>,,,c c Recursos generados en actividades de Financiamiento«««««««««««««..$58,000 c 3 ERS3O : 8 c c/ 9 >,,,,,,c $cc 4 9+ >,,, ,,
Aumento de efectivo«««««««««««««««««««««««««.$68,250 Efectivo e inversiones temporales al principio del periodo««««««««.24,500 Efectivo e inversiones temporales al final del periodo««««««««««..92,750 ijuana, B.C. a 25 de Enero del 2011.
Las notas que se adjuntan forman parte integrante del presente Estado Financiero. Formulado por: Contador General
Autorizado por Administrador General
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EJERC3CO o. 05 El oportuno, S.A. de C.. Balance General al 31 de Diciembre del (Miles de pesos) AC3O C3RCULA E 2010 6 c G,c c >,,c c >%,,c c c ,,c ! c >,,,c B c ",c & c 1 cc c ,c 1 c#c* c ,c OAL AC3O C3RULA E $4,340 AC3O O C3RCULA E c / c (+,c 4 c >,,,c c $ c c 4 c 9>,(,,,,c c $ c c- 8 c 9,,,,,c c $ c c8c c 9,,
c > ,,c $' c $ c c7 c c 9>,,,
c 1 c#c* c (,,c OAL AC3O O C3RCULA E $16,030 OAL AC3O $20,370 PAS3O A CORO PLAO c c ,,c c c ,c c* c >,,,c !&cc 1 c ,c /cc 1 c (,c & c* cc c +"c OAL PAS3O A CORO PLAO $2,046 PAS3O A LARGO PLAO c c: cc >,,,c =* 1 cc c >,,,c & c* cc c "c OAL PAS3O A LARGO PLAO $7,016 OAL PAS3O $9,062 CAP3AL CO ABLE c CAP3AL CO R3BU3DO c c c >,,,c c c4 c $ c c ccc >,,,c
2011 G% ,c ,>%(,c ">,,,c ,c ,> ,,c ,c ,c ,c $58,120 c (+,c >,,,c 9>,,,,c 9 ,,,c 9",, ,,c 9>% ,+,,c ,c ,c (>%,,c >(,,c "c $14,416 c >,,,c >,,,c ,c $7,000 $21,416 c c >,,,c ,c
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OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c $ c & cD1 c & c c c c c6c OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
$6,000 c > ,,c c ,c (c $5,308 $11,308 $20,370
$21,000 c > c c ,c ">+"c $31,054 $52,054 $73,470
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El oportuno, S.A. de C.. Balance General al 31 de Diciembre del (Miles de pesos) AC3O C3RCULA E 2010 2011 ariación Efectos +/G/U 6 c G,c G% ,c % ,c 7c c >,,c ,>%(,c +> (,c 7c c >%,,c ">,,,c >,,c c c c ,,c ,c 9,,,,,c ,> ,,c +> ,,c c B c ",c ,c 9",,,,c >,,,c ,c c c $ c c 4 c 9>,(,,,,,c >,,,c ,c c c $ c c- 8 c 9,,,,,c >,,c >,,c c c $ c c8c c 9,,
c > ,,c > ,,c ,c c $' c $ c c7 c c 9>,,,% ,
c 1 c#c* c (,,c %,c 9,+,,c > ,,c 7c c c ,c ,c 9 ,,,,c ,c 9>,,,%,,c (> (,c 7c /cc 1 c (,c >(,,c >%,c 7c & c* cc c +"c "c 9(,,,,c >,,,c ,c c =* 1 cc c >,,,c >,,,c ,c c & c* cc c "c ,c 9"
Clave de Actividad O/F/3 c c =c =c =c =c =c =c c c !c !c =c !c =c !c =c !c =c !c =c !c =c =c c c c =c =c c =c =c =c c c c c ,c c c c
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CAP3AL CO R3BU3DO c c c c4 c $ c c ccc OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c $ c & cD1 c & c c c c c6c OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
c >,,,c >,,,c $6,000 c > ,,c c ,c (c $5,308 $11,308 $20,370
c >,,,c ,c $21,000 c > c c ,c ">+"c $31,054 $52,054 $73,470
c ">,,,c 9>,,,+c c c c
c 7c c c c )c )c )c )c c c c
c c c c c c c c c c c c
CEDULA DE AR3AC3O ES
? cc c c c 6 ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccG% ,cccccccccccccccccccccccccccccccccccccccccccccccccc ? cc c c c cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc+> (,c c
!$c c4c c c ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccG,>,c c
CEDULA PARA DEERM3 AR LOS D33DE DOS PAGADOS c c6c,,ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccG (c ? cc c c c c $ ccccccccccccccccccccccccccccccccG9%
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El oportuno SA DE C Estado de Cambios en la Situación Financiera del 01 de Enero al 31 de Diciembre del 2011 OPERAC3 :
c) 2G">+"c c c c c8cc8c c ' c c cc42c 2%,ccccccccccccccccccccccccccccccccccccccccccccccccccccccc $' 2(,cccccccc> ,cccccccccccccccccccccccccccccccccccccc ccc(>,"c c =&!7!)cIcD!!J)c c&/! c c=&!J)2c $cc 9>,, ,, ,,c $cc c 9 , (,c $cc/cc 1 >%,c $cc& c* cc 9+"%"",,,,,,c $cc c c4 c $ c c 9>,,,,,
Aumento de efectivo«««««««««««««««««««««««««......$10,330 Efectivo e inversiones temporales al principio del periodo««««««««««1,210 Efectivo e inversiones temporales al final del periodo«««««««««««..11,540 ijuana, B.C. a 25 de Enero del 2011.
Las notas que se adjuntan forman parte integrante del presente Estado Financiero. Formulado por: Contador General
Autorizado por Administrador General
c èÑc c
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" EJERC3CO
o. 01 La 3lusión, S.A. de C.. Balances comparativos AC3O C3RCULA E 6 c c ! c$ c c ! c c c c & c 1 cc c 1 c#c* c otal Activo Circulantec O C3RCULA E / c 4 c c $ c c 4 c - 8 c c $ c c- 8 c -* c#c8c c4 c c $ c c-* c#c 8c c4 c 8c c c c $ c c8c c c : c c c $' c $ c c : c c c c $' c $ c c c - c1 c $' c $ c c$ c 1 c OAL o Circulantec OAL AC3Oc PAS3O A CORO PLAO c c c !&cc 1 c /cc 1 c c* c c c c OAL PAS3O A CORO PLAOc A LARGO PLAO c: c =* 1 cc c OAL PAS3O A LARGO PLAOc OAL PAS3Oc CAP3AL CO ABLE
2009c 2010c G,,>,,,c G >,,, ,>,,,c +,>,,, % >,,,c ,,>,,,c ,,>,,,c %,>,,,c (,>,,,c %">,,,c ,>,,,c >,,,c >,,,c >,,,c ">,,,c ,>,,,c $1´236,000c $1´427,000c c c ,,>,,,c ,>,,,c ,,>,,,c "",>,,,c 9,,>,,,,,,,,,c % >,,,c 9(,>,,,,,,,,,c +>,,,c 9>,,,,,,< c >,,,c ,%>,,,c 9 >,,,,,,,,,ccccc ,,>,,,c 9,>,,,,,,,,,ccccc ,>,,,c 9%,>,,,,,,,,,ccc ,>,,, 9 >,,,,,,,,,ccccc %(>,,, ,>,,,ccccc (,>,,,c >,,,ccccc % >,,,c ,,>,,,ccccc ,>,,,c ,,>,,,ccccc ,c ,>,,,ccccc ,,>,,,c $1´215,000 $943,000 c c ,,>,,,ccccc %,,>,,,c ,,>,,,ccccc ,,>,,,c $800,000 $1´000,000c $2´015,000 $1´943,000c c
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c c c c4 c $ c c c OAL CAP3AL CO R3BU3DOSc GA ADO c $ c & cD1 c & c c c c c6c OAL CAP3AL GA ADOc OAL CAP3AL CO ABLEc PAS3O + CAP3AL CO ABLEc
,,>,,,ccccc >,,,c ,>,,,ccccc ,>,,,c c $410,000 $475,000c c c ,,>,,,ccccc %>,,,c ,>,,,ccccc ",>,,,c ,>,,,ccccc ,>,,,c ,>,,,ccccc +%>,,,c $571,000c $768,000c $981,000 $1´243,000c $2´996,000 c$3´186,000c
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c La 3lusión, S.A. de C.. Balances comparativos AC3O C3RCULA E 6 c c ! c$ c c ! c c c c & c 1 cc c 1 c#c* c otal Activo Circulantec O C3RCULA E / c 4 c c $ c c 4 c - 8 c c $ c c- 8 c -* c#c8c c4 c c $ c c-* c#c8c
c4 c 8c c c c $ c c8c c c : c c c $' c $ c c : c c c c $' c $ c c c - c1 c $' c $ c c$ c1 c OAL o Circulantec OAL AC3Oc PAS3O A CORO PLAO c c c !&cc 1 c /cc 1 c c* c c c c OAL PAS3O A CORO PLAOc A LARGO PLAO c: c =* 1 cc c OAL PAS3O A LARGO PLAOc OAL PAS3Oc CAP3AL CO ABLE c c c c4 c $ c c c OAL CAP3AL CO R3BU3DOSc GA ADO
2009c 2010c Lc (%Lc "(Lc +"Lc +(Lc Lc Lc %(+Lc "%Lc +Lc ,"%Lc ,"+Lc ,%Lc ,Lc ,,Lc ,Lc 41.26% 44.79% cc cc Lc ,++Lc ""+Lc ,%Lc Lc +Lc ( Lc +Lc "%Lc (Lc ,Lc +Lc ,Lc ,""Lc ,( Lc %%Lc %Lc "(Lc Lc Lc ,,Lc ((Lc %Lc "+Lc Lc Lc "%Lc Lc ,Lc ((Lc 58.74% 55.21% 100.00% 100.00% cc cc "(Lc ,,Lc ,Lc Lc % Lc +Lc Lc Lc ,,Lc ,,,Lc ,Lc Lc 40.55% 29.60% cc cc ""+Lc +%Lc ,,Lc +Lc 26.70% 31.39% 67.26% 60.99% cc cc Lc " Lc ,Lc "Lc 13.68% 14.91% cc cc
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,,Lc "%Lc ,"%Lc "%Lc 19.06% 32.74% 100.00%
%(Lc ((Lc "Lc "(Lc 24.11% 39.01% 100.00%
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EJERC3C3O #2 c Dc-)&cc c?c D)c7)&DcDcc c !!-&c Dcc AC3O C3RCULA E 6 c c ! c/$ c c ! c otal activo Circulante AC3O O C3RCULA E / c 4 c c $c c 4 c - 8 c c $c- 8 c OAL AC3O O C3RCULA E OAL AC3O c PAS3O A CORO PLAO c c c !&cc 1 c /cc 1 c OAL PAS3O A CORO PLAO PAS3O A LARGO PLAO cK c c c =* 1 cc c OAL PAS3O A LARGO PLAO
OAL PAS3O CAP3AL CO ABLE CAP3AL CO R3BU3DO c c cI4c$c c c OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c $ c & cD1 c & c c
,,c G,,c ",,c ,,c ,,,c ,,,c (+,,c c c ,,,,c ,,,,c 9,,,,
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Dc-)&cc c?c D)c7)&DcDcc c !!-&c Dcc c AC3O C3RCULA E ,,c ,c 6 c ,,+Lc ,(Lc c ,%Lc ,Lc ! c/$ c , ,Lc , %Lc c Lc %%Lc ! c (,Lc Lc otal activo Circulante ,Lc + Lc cc cc AC3O O C3RCULA E cc cc / c (,Lc +(+Lc 4 c "%",Lc ""Lc c $c c 4 c (,Lc ,Lc - 8 c (,Lc +%+Lc c $c- 8 c Lc ((Lc OAL AC3O O C3RCULA E + ++Lc + , Lc OAL AC3O ,,,,Lc ,,,,Lc c cc cc PAS3O A CORO PLAO cc cc c ,,%Lc ,,+Lc c c ,,Lc ,(Lc !&cc 1 c ,Lc ,%Lc /cc 1 c ,,+Lc , Lc OAL PAS3O A CORO PLAO , ,Lc ,"+Lc PAS3O A LARGO PLAO cc cc cK c " Lc ((Lc c c +(Lc ((Lc =* 1 cc c ,,,Lc %"(Lc OAL PAS3O A LARGO PLAO "Lc %Lc OAL PAS3O "Lc ", Lc CAP3AL CO ABLE cc cc CAP3AL CO R3BU3DO cc cc c c "Lc (%Lc cI4c$c c c ,,,Lc Lc OAL CAP3AL CO R3BU3DO "Lc ,+ Lc CAP3AL GA ADO ,,,Lc ,,,Lc c $ c +,Lc "Lc & cD1 c ,+,Lc ,"Lc & c c "%"Lc ((Lc c c6c ,"Lc ((Lc - c c
OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
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EJERC3CO o. 03 Cía. Jesu S.A. de C.. Balances comparativos AC3O C3RCULA E 4c ! c$ c cc* c ! c 1 c cc ! c c 1c 'c OAL AC3O C3RULA E AC3O O C3RCULA E / c 4 c c $ c c 4 c 8cc c $ c c8c OAL AC3O O C3RCULA E OAL AC3O PAS3O A CORO PLAO c !$ cc 1 c OAL PAS3O A CORO PLAO PAS3O A LARGO PLAO K cc 1 c =* 1 cc c OAL PAS3O A LARGO PLAO OAL PAS3O CAP3AL CO ABLE CAP3AL CO R3BU3DO c$Hc $ cc c$Hcc OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c c & cD1 c & c c c c c6c OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
2010 G> ,,c ,c ">",,c , >,,c >% ,c %,>,,,c G(> ,c c ,>,,,c +,>,,,c 9 >,,,,,,c 9(,>% , ,c G +> ,,c c > ,,c ">,,,c G(> ,,c c ,c ,,>,,,c G,,>,,,c G(> ,,c c c %,>,,,c >,,,c G, >,,,c c ">,,,c ,>,,,c ,>,,,c ,>,,,c G>,,,c G">,,,c G +> ,,c
2011 %> ,,c > ,c +>+,,c ,>,,,c > ,c ,c G >+,,c c >,,,c ( >,,,c 9",> ,, ,,c 9, >,,",,c G"+"> ,,c c > ,,c >,,,c G > ,,c c (,>,,,c ,>,,,c G,>,,,c G(> ,,c c c +,>,,,c >,,,c G>,,,c c ("> ,,c > ,,c >,,,c (>,,,c G%+>,,,c G>,,,c G"+"> ,,c
c c c c c c -Ñc c
! Cía. Jesu S.A. de C.. Balances comparativos AC3O C3RCULA E 4c ! c$ c cc* c ! c 1 c cc ! c c 1c 'c OAL AC3O C3RULA E AC3O O C3RCULA E / c 4 c c $ c c 4 c 8cc c $ c c8c OAL AC3O O C3RCULA E OAL AC3O PAS3O A CORO PLAO c !$ cc 1 c OAL PAS3O A CORO PLAO PAS3O A LARGO PLAO K cc 1 c =* 1 cc c OAL PAS3O A LARGO PLAO OAL PAS3O CAP3AL CO ABLE CAP3AL CO R3BU3DO c$Hc $ cc c$Hcc OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c c & cD1 c & c c c c c6c OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
2010 Lc ,,,Lc %(Lc %%Lc ,+Lc %%Lc %"Lc cc , Lc +"Lc (+Lc %Lc (Lc (Lc ,,,,Lc cc % Lc ,Lc ("Lc cc ,,,Lc "Lc "Lc (,Lc cc cc (",Lc (+Lc (Lc cc ,"Lc , Lc "Lc , Lc %Lc (,Lc ,,,,Lc
2011 "(Lc " ,Lc %Lc %Lc ,Lc ,,,Lc "",Lc cc ,Lc ,+Lc ("+Lc (Lc Lc ",Lc ,,,,Lc cc +"Lc (%Lc %(Lc cc +Lc Lc ,Lc ,( Lc cc cc %(Lc "%Lc Lc cc Lc Lc ,Lc "Lc %,Lc + Lc ,,,,Lc
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EJERC3CO o. 04 El oportuno, S.A. de C.. Balance General al 31 de Diciembre del (Miles de pesos) AC3O C3RCULA E 2010 6 c G,c c >,,c c >%,,c c c ,,c ! c >,,,c B c ",c & c 1 cc c ,c 1 c#c* c ,c OAL AC3O C3RULA E $4,340 AC3O O C3RCULA E c / c (+,c 4 c >,,,c c $ c c 4 c 9>,(,,,,c c $ c c- 8 c 9,,,,,c c $ c c8c c 9,,
c > ,,c $' c $ c c7 c c 9>,,,
c 1 c#c* c (,,c OAL AC3O O C3RCULA E $16,030 OAL AC3O $20,370 PAS3O A CORO PLAO c c ,,c c c ,c c* c >,,,c !&cc 1 c ,c /cc 1 c (,c & c* cc c +"c OAL PAS3O A CORO PLAO $2,046 PAS3O A LARGO PLAO c c: cc >,,,c =* 1 cc c >,,,c & c* cc c "c OAL PAS3O A LARGO PLAO $7,016 OAL PAS3O $9,062 CAP3AL CO ABLE c CAP3AL CO R3BU3DO c c c >,,,c c c4 c $ c c ccc >,,,c
2011 G% ,c ,>%(,c ">,,,c ,c ,> ,,c ,c ,c ,c $58,120 c (+,c >,,,c 9>,,,,c 9 ,,,c 9",, ,,c 9>% ,+,,c ,c ,c (>%,,c >(,,c "c $14,416 c >,,,c >,,,c ,c $7,000 $21,416 c c >,,,c ,c
-[c c
OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c $ c & cD1 c & c c c c c6c OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
$6,000 c > ,,c c ,c (c $5,308 $11,308 $20,370
$21,000 c > c c ,c ">+"c $31,054 $52,054 $73,470
c c c c c c c c c c c c c c c c c c c c
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! El oportuno, S.A. de C.. Balance General al 31 de Diciembre del (Miles de pesos) AC3O C3RCULA E 2010 6 c ,, Lc c (+Lc c ( Lc c c ,+Lc ! c +Lc B c ,+Lc & c 1 cc c , +Lc 1 c#c* c ,%Lc OAL AC3O C3RULA E 21.31% AC3O O C3RCULA E cc / c %Lc 4 c (+Lc c $ c c 4 c ,Lc - 8 cc +Lc c $ c c- 8 c +"Lc -* c#c8c Lc c $ c c-* c#c 8c ,+Lc 8c c c +Lc c $ c c8c c +"Lc c 7 c c c Lc $' c $ c c7 c c ccc ,"Lc 7 c c 1 c#c
c %Lc $' c $ c c7 c c 1 c#c
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o. 06 / =c c&D/ =c
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o. 01 La 3lusión, S.A. de C.. Balances comparativos AC3O C3RCULA E 6 c c ! c$ c c ! c c c c & c 1 cc c 1 c#c* c otal Activo Circulantec O C3RCULA E / c 4 c c $ c c 4 c - 8 c c $ c c- 8 c -* c#c8c c4 c c $ c c-* c#c 8c c4 c 8c c c c $ c c8c c c : c c c $' c $ c c : c c c c $' c $ c c c - c1 c $' c $ c c$ c 1 c OAL o Circulantec OAL AC3Oc PAS3O A CORO PLAO c c c !&cc 1 c /cc 1 c c* c c c c OAL PAS3O A CORO PLAOc A LARGO PLAO c: c =* 1 cc c OAL PAS3O A LARGO PLAOc OAL PAS3Oc CAP3AL CO ABLE
2009c 2010c G,,>,,,c G >,,, ,>,,,c +,>,,, % >,,,c ,,>,,,c ,,>,,,c %,>,,,c (,>,,,c %">,,,c ,>,,,c >,,,c >,,,c >,,,c ">,,,c ,>,,,c $1´236,000c $1´427,000c c c ,,>,,,c ,>,,,c ,,>,,,c "",>,,,c 9,,>,,,,,,,,,c % >,,,c 9(,>,,,,,,,,,c +>,,,c 9>,,,,,,< c >,,,c ,%>,,,c 9 >,,,,,,,,,ccccc ,,>,,,c 9,>,,,,,,,,,ccccc ,>,,,c 9%,>,,,,,,,,,ccc ,>,,, 9 >,,,,,,,,,ccccc %(>,,, ,>,,,ccccc (,>,,,c >,,,ccccc % >,,,c ,,>,,,ccccc ,>,,,c ,,>,,,ccccc ,c ,>,,,ccccc ,,>,,,c $1´215,000 $943,000 c c ,,>,,,ccccc %,,>,,,c ,,>,,,ccccc ,,>,,,c $800,000 $1´000,000c $2´015,000 $1´943,000c c
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,,>,,,ccccc >,,,c ,>,,,ccccc ,>,,,c c $410,000 $475,000c c c ,,>,,,ccccc %>,,,c ,>,,,ccccc ",>,,,c ,>,,,ccccc ,>,,,c ,>,,,ccccc +%>,,,c $571,000c $768,000c $981,000 $1´243,000c $2´996,000 c$3´186,000c
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! La 3lusión, S.A. de C.. Balances comparativos AC3O C3RCULA E 6 c c ! c$ c c ! c c c c & c 1 cc c 1 c#c* c otal Activo Circulantec O C3RCULA E / c 4 c c $ c c 4 c - 8 c c $ c c- 8 c -* c#c8c c4 c c $ c c-* c#c 8c c4 c 8c c c c $ c c8c c c : c c c $' c $ c c : c c c c $' c $ c c c - c1 c $' c $ c c$ c 1 c OAL o Circulantec OAL AC3Oc PAS3O A CORO PLAO c c c !&cc 1 c /cc 1 c c* c c c c OAL PAS3O A CORO PLAOc A LARGO PLAO c: c =* 1 cc c OAL PAS3O A LARGO PLAOc OAL PAS3Oc CAP3AL CO ABLE c c c c4 c $ c c c OAL CAP3AL CO R3BU3DOSc
2009c 2010c G,,>,,,c G >,,, ,>,,,c +,>,,, % >,,,c ,,>,,,c ,,>,,,c %,>,,,c (,>,,,c %">,,,c ,>,,,c >,,,c >,,,c >,,,c ">,,,c ,>,,,c $1´236,000c $1´427,000c c c ,,>,,,c ,>,,,c ,,>,,,c "",>,,,c 9,,>,,,,,,,,,c % >,,,c 9(,>,,,,,,,,,c +>,,,c 9>,,,,,,< c >,,,c ,%>,,,c 9 >,,,,,,,,,ccccc ,,>,,,c 9,>,,,,,,,,,ccccc ,>,,,c 9%,>,,,,,,,,,ccc ,>,,, 9 >,,,,,,,,,ccccc %(>,,, ,>,,,ccccc (,>,,,c >,,,ccccc % >,,,c ,,>,,,ccccc ,>,,,c ,,>,,,ccccc ,c ,>,,,ccccc ,,>,,,c $1´215,000 $943,000 c c ,,>,,,ccccc %,,>,,,c ,,>,,,ccccc ,,>,,,c $800,000 $1´000,000c $2´015,000 $1´943,000c c ,,>,,,ccccc >,,,c ,>,,,ccccc ,>,,,c c $410,000 $475,000c
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EJERC3CO o. 03 Cía. Jesu S.A. de C.. Balances comparativos AC3O C3RCULA E 4c ! c$ c cc* c ! c 1 c cc ! c c 1c 'c OAL AC3O C3RULA E AC3O O C3RCULA E / c 4 c c $ c c 4 c 8cc c $ c c8c OAL AC3O O C3RCULA E OAL AC3O PAS3O A CORO PLAO c !$ cc 1 c OAL PAS3O A CORO PLAO PAS3O A LARGO PLAO K cc 1 c =* 1 cc c OAL PAS3O A LARGO PLAO OAL PAS3O CAP3AL CO ABLE CAP3AL CO R3BU3DO c$Hc $ cc c$Hcc OAL CAP3AL CO R3BU3DO CAP3AL GA ADO c c & cD1 c & c c c c c6c OAL CAP3AL GA ADO OAL CAP3AL CO ABLE PAS3O + CAP3AL CO ABLE
2010 G> ,,c ,c ">",,c , >,,c >% ,c %,>,,,c G(> ,c c ,>,,,c +,>,,,c 9 >,,,,,,c 9(,>% , ,c G +> ,,c c > ,,c ">,,,c G(> ,,c c ,c ,,>,,,c G,,>,,,c G(> ,,c c c %,>,,,c >,,,c G, >,,,c c ">,,,c ,>,,,c ,>,,,c ,>,,,c G>,,,c G">,,,c G +> ,,c
2011 %> ,,c > ,c +>+,,c ,>,,,c > ,c ,c G >+,,c c >,,,c ( >,,,c 9",> ,, ,,c 9, >,,",,c G"+"> ,,c c > ,,c >,,,c G > ,,c c (,>,,,c ,>,,,c G,>,,,c G(> ,,c c c +,>,,,c >,,,c G>,,,c c ("> ,,c > ,,c >,,,c (>,,,c G%+>,,,c G>,,,c G"+"> ,,c
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2010 G> ,,c ,c ">",,c , >,,c >% ,c %,>,,,c G(> ,c c ,>,,,c +,>,,,c 9 >,,,,,,c 9(,>% , ,c G +> ,,c c > ,,c ">,,,c G(> ,,c c ,c ,,>,,,c G,,>,,,c G(> ,,c c c %,>,,,c >,,,c G, >,,,c c ">,,,c ,>,,,c ,>,,,c ,>,,,c G>,,,c G">,,,c G +> ,,c
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EJERC3CO o. 04 El oportuno, S.A. de C.. Balance General al 31 de Diciembre del (Miles de pesos) AC3O C3RCULA E 2010 6 c G,c c >,,c c >%,,c c c ,,c ! c >,,,c B c ",c & c 1 cc c ,c 1 c#c* c ,c OAL AC3O C3RULA E $4,340 AC3O O C3RCULA E c / c (+,c 4 c >,,,c c $ c c 4 c 9>,(,,,,c c $ c c- 8 c 9,,,,,c c $ c c8c c 9,,
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c 1 c#c* c (,,c OAL AC3O O C3RCULA E $16,030 OAL AC3O $20,370 PAS3O A CORO PLAO c c ,,c c c ,c c* c >,,,c !&cc 1 c ,c /cc 1 c (,c & c* cc c +"c OAL PAS3O A CORO PLAO $2,046 PAS3O A LARGO PLAO c c: cc >,,,c =* 1 cc c >,,,c & c* cc c "c OAL PAS3O A LARGO PLAO $7,016 OAL PAS3O $9,062 CAP3AL CO ABLE c CAP3AL CO R3BU3DO c c c >,,,c c c4 c $ c c ccc >,,,c
2011 G% ,c ,>%(,c ">,,,c ,c ,> ,,c ,c ,c ,c $58,120 c (+,c >,,,c 9>,,,,c 9 ,,,c 9",, ,,c 9>% ,+,,c ,c ,c (>%,,c >(,,c "c $14,416 c >,,,c >,,,c ,c $7,000 $21,416 c c >,,,c ,c
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$6,000 c > ,,c c ,c (c $5,308 $11,308 $20,370
$21,000 c > c c ,c ">+"c $31,054 $52,054 $73,470
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! El oportuno, S.A. de C.. Balance General al 31 de Diciembre del (Miles de pesos) AC3O C3RCULA E 2010 6 c G,c c >,,c c >%,,c c c ,,c ! c >,,,c B c ",c & c 1 cc c ,c 1 c#c* c ,c OAL AC3O C3RULA E $4,340 AC3O O C3RCULA E c / c (+,c 4 c >,,,c c $ c c 4 c 9>,(,,,,c c $ c c- 8 c 9,,,,,c c $ c c8c c 9,,
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2011 G% ,c ,>%(,c ">,,,c ,c ,> ,,c ,c ,c ,c $58,120 c (+,c >,,,c 9>,,,,c 9 ,,,c 9",, ,,c 9>% ,+,,c ,c ,c (>%,,c >(,,c "c $14,416 c >,,,c >,,,c ,c $7,000 $21,416 c c >,,,c ,c
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2010
Razones Financieras Simples c Liquidez: w
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EJERC3CO o. 09 El oportuno, S.A. de C.. Balance General al 31 de Diciembre del (Miles de pesos) AC3O C3RCULA E 2010 6 c G,c c >,,c c >%,,c c c ,,c ! c >,,,c B c ",c & c 1 cc c ,c 1 c#c* c ,c OAL AC3O C3RULA E $4,340 AC3O O C3RCULA E c / c (+,c 4 c >,,,c c $ c c 4 c 9>,(,,,,c c $ c c- 8 c 9,,,,,c c $ c c8c c 9,,
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2010
2011
Dictamen
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cÑGc c c c cÑGcc cccc cc3 c c c c c
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c cGG-ècc
ccc-Grrc2cG c-Grrc,c c c c c c c c cc cc c c cccccc cc c cc c-Grr,c
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ccèèèè,c c c c c c c c c ccc c c cc c cèèèè,c
c c cccÑ ccccÑèèèc2cG ccÑèèè,c cccccccccc c ccGcÑ c c c c &!c c6c$Gc0c c c %cccc- c c c ÑcGr c c
c c c c c cD c ccc c cÑèèè,c
c6c$G.è %ccccÑ cGÑÎrc2cG cGÑÎr,c ÑcGr cccccccccÑcGr c
x c c c c cc c c ccc cGÑÎr,c c c c cc 5 c c c c &c c/c$Gc0c c %ccÑ c/c ccÑ cGÑÎrc2cG cGÑÎr,c c c c ccccccccÑcGr cccccccccÑcGr c c c cc ccGÑÎr,c c c c c c &cc ccccÑ cccc c ccGc[
cGÑc2cG ccGÑ,c ccc c c c
c c c c c c cc ccGÑ,c cc c
c c
G èc c
%/cc% #c# $ c0 %1 234c cc# #%/c 5c'(*(c x c ' c c c 1 c c c c c c c &c cc c & ccx c c 'c & c c c ''c & c c c '''c #c !c c &!c &c &c
#%c
,c#c" c
èGc -èc ÑÎc G c
[c Gèc Ñèc Gèc
è ,c Ñ c c Ñ[c4 c -èc c - c4 c rc c r c4 c [è,c - ,c è ,c [Ñ,c è ,c r,c
Gè ,c Ñèèc c G[-[c4 c è-èc c G -Îrc4 c ÑG c c G-èc4 c -Grr,c èèèè,c Ñèèè,c Î ,c GÑÎr,c GÑ,c
ù& $%c c c c c c c c c c c c c c c c c c c c 7c c c c c c cc c c c c c c c c c c c c c c c c c c c 4c c c 5cc c c c c c c c c c c c c cc c c c c c c c c c c c c c ccc c c c c c c c cc c c c c c cc c c c c cc 5 c c c c c c c c c c c c c c c c c c c c c c cc c c c c ccc' c cc
c
3ntegrantes: c c) c 7$'c1c ' *:c 7' 'c #c! cF '$Bcc !E1'c
cD c c c c c c c c G -c c
EJERC3CO o. 11 c cMc> ,,c c cc 'cMc>,,c / c4 cMc,Lc
c$HcMcNOc c c6cMc>(+,c c cMcNOc ? c) cMc >,,,c cc cMc>",,c c c 1c 'cMc>,,,c !!cMc>%,,c 7 c cMc>,,,c c $ c c&=>c&/c#c&c c c c c c c c c c c c c c c c c c G [c c
!
c cMc> ,,c c cc 'cMc>,,c / c4 cMc,Lc
c$HcMcNOc c c6cMc>(+,c c cMcNOcMc>(+,c ? c) cMc >,,,c cc cMc>",,c c c 1c 'cMc>,,,c !!cMc>%,,c 7 c cMc>,,,c c $ c c&=>c&/c#c&c c !!c 7 c4 c c c c c c c c c c c
c>%,,c >,,,c >%,,cc0c,cMc(,c c >%,,c (,c >(+,c c c c c c
c c c c c c c c c c c c
cc )c /c c c Dc /c c /c /c c c6c c
ccc> ,,c Pc>",,c ccc(>,,c c ccc>,,c Pc>,,,c ccc>,,c c c(>,,c >,,c >(+,c cc>,,c
&!c c6c$Gc0c c c %ccccè c6c$G.è %ccccccccÑ[Î ccccccccccèGÎc2cG c c c c cccccc G ccccccccccccccccccc G c
cèGÎ,c
c
x c c c c cc c c ccc cèGÎ,c c c c cc 5 c c c c &c c/c) cc$Gc0c c %cccG Î c/cG c6$Gc.è %ccÑ Î c6 cÑ-Îc2cG cÑ-Î,c c ccccccccccccccc c c cccccccccccccccccccccccc G cccccccccccccccccccccccccccccc G c c c cc ccÑ-Î,c c c c c c &cc ccccG Î crÑÎc2cG cccc c ccccè G ccc c
ccrÑÎ,c c c
c c c c c c cc ccrÑÎ,c cc c
G rc c
3ntegrantes: c c) c 7' 'c #c! cF '$Bcc c c c c c c c c c c c c c c c c c c c c c c G c c
EJERC3CO o. 12
? c (>,,,c $ c c ",>,,,c c9 ,,,c c94 ,,,c = c1 cc ,>,,,c / c4 cc ,Lc 1 c c >,,,c 7 c1 c (,>,,,c ! c c ,>,,,c ! c4 cc (>,,,c 4c >,,,c cc 1 c >,,,c c c c cc c * 6c & 'c c c * c c !cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc! c#c c -c & c c cc* c c & c c c c c c c c c c c c c c c G c c
!c
? c (>,,,c $ c c ",>,,,c c9 ,,,c c94 ,,,c = c1 cc ,>,,,c / c4 cc ,Lc 1 c c >,,,c 7 c1 c (,>,,,c ! c c ,>,,,c ! c4 cc (>,,,c 4c >,,,c cc 1 c >,,,c c cc c * 6c & 'c c c * c c !cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc! c#c c -c & c c cc* c c & c c c c c c Mc">,,,c Mccc >,,,cccccc!c! ccccccc$ c cccccccccc!c c c c cMc,>,,,cccccPccccccc",>,,,cccccccccSccccccc(>,,,cccMc>,,,c 1. # # # # # # %& ( ' La empresa cuenta con suficiente Activo circulante para cubrir sus deudas a corto plazo, y le sobra $ 84,000.00.
#
%& & Por cada peso de P.C., la empresa cuenta con $2.62 de activo circulante.
#
o!" # $
%& ( ' $ '' &, ' Por cada peso de P.C., la empresa cuenta con $1.69 de activo líquido.
4. Z 23425429
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D c$ c cc* c c c c c(%,c B c c 3ntegrantes: 7' 'c #c! cF '$Bcc c c c c c c c c c c c c c c GG c c
EJERC3CO o. 13
c$ cc c c c. c c ,,>,,,c ccccccccccccccccccccccccccccccccccccccccccccccccPcccccccccccccccccccccccccccccPc - 1ccMc,L>c cccccccc,>,,,>c ccccccc >,,,>c c! cMc,>,,,c#c c4cMc >,,,c c N c *c c c! c$ >c c c c c c c Oc c Nc c B c *c* c c c c. >c c cc c$0$c c,>,,,Oc
c c c c c c c c c c c c c c c c c c c c GGGc c
!c
c$ cc c c c. c c ,,>,,,c ccccccccccccccccccccccccccccccccccccccccccccccccPcccccccccccccccccccccccccccccPc - 1ccMc,L>c cccccccc,>,,,>c ccccccc >,,,>c c! cMc,>,,,c#c c4cMc >,,,c c N c *c c c! c$ >c c c c c c c Oc c 34542 Z 23425429 c #25429 89 43 c :@<<<< c @ } c :@<<<< #25429 89 43 J<<<c c cc c$0$c c,>,,,Oc c
@<<<<< I:>>>Hc :A<
I<<<< JIH3c I:>>>H
c 3ntegrantes: 7' 'c #c! cF '$Bcc c c c c c c c c c c GGÑc c
EJERC3CO o. 14 Empresa A SA de C c7 >c cc c $*c c,,c cc /!?=c!&D)/c 4c c ! c /=/Dc/!?=c!&D)/c c)c c)c c c c c c ccc/=/Dc/!?=c
c
c !?=cc=&/=cDQ=c c c c /=/Dc!?=cc=&/=cDQ=c ccD 1c 'c c $ cc 1 cDc c / c c c c * c c c* c c c c c c7 c c c c c /=/Dc!?=c-c!/Dc=)/Dc
c c c c c c c c ,,>,,,c c ,,>,,,c c
c c c" cc!c #cc #cc*6cc cc-*cc%& cc'(*(,c c c GGÑ[ c c c c c c#(c cccccccccccc ) c) (c c c c c$ %c c ) c c c c c c c c c cccc c c c c
c c / c!&c,Lc c D c cc* c cc c,,cB cc c cG >,,,c#c* c cc Ec c",c B c c cc$ c c,c B c c c*c c c c
c c c c,,c c c$ 1c c c* c4c c,Lc *c c cc c,,c c c c c4c cG%> ,,>c#c c c c c c c Ec c,,c 4c c cc c c c c c4 c c,,c * c c ,Lc c c c c * c "c D c1 c1 cB cc 6c1 c c"Lc %c D c $ cc 1 c c 1c 'c * cc $c c4 c cc
c c >c 1 c. c c c c Lc cD c c4c * c%c cc c c c cc (c D c* c c cc 'c c 8 'c 6c c 'c c% c
c
GGèc c
! Empresa A SA de C c7 >c cc c $*c c,,c cc
/!?=c!&D)/c 4c c ! c /=/Dc/!?=c!&D)/c c)c c)c c c c c c /=/Dc/!?=c
c "> ,,,,c >,,,,,c " > ,,,,c ,>,,,,,c ,,>,,,,,c c c c c c % ,>,,,,,c
!?=cc=&/=cDQ=c c /=/Dc!?=cc=&/=cDQ=c ccD 1c 'c $ cc 1 cDc / c c c * c c* c c c c7 c c c /=/Dc!?=c-c!/Dc=)/Dc
,>,,,,,c ,>,,,,,c c c ,,>,,,,,c ,>,,,,,c c c ,,>,,,c c ,,>,,,c % ,>,,,,,c
c c c" cc!c #cc #cc*6cc cc-*cc%& cc'(*(,c c c cccccccccccGGÑ[ c c c c cccccccccccccc [ c c#(c cccccccccccccccèè[ c ) c) (c r[ c c c c$ %c Ñ c ) c c G c c c c c c Ñr c cccc c c c G Ñ c
c c / c!&c,Lc c D c cc* c cc c,,cB cc c cG >,,,c#c* c cc Ec c",c B c c cc$ c c,c B c c c*c c c c
c c c c,,c c c$ 1c c c* c4c c,Lc *c c cc c,,c c c c c4c cG%> ,,>c#c c c c c c c Ec c,,c 4c c cc c c c c c4 c c,,c * c c ,Lc c c c c * c "c D c1 c1 cB cc 6c1 c c"Lc %c D c $ cc 1 c c 1c 'c * cc $c c4 c cc
c c >c 1 c. c c c c Lc cD c c4c * c%c cc c c c cc (c D c* c c cc 'c c 8 'c 6c c 'c c% c 3ntegrantes: 7' 'c #c! cF '$Bcc
GG-c c
#$ " EJERC3CO o. 1
c c c $ c c 'c$ >c$ c#c$ cc c cB c c c c c $ c c c 1 c 2c Año ,,"c ,,%c ,,(c ,,+c ,,c
Índice de Solvencia ,(c ,"c c ,+c c
c c c c c c c c c c c c c c c c c c c GG[c c
!
c c $ c c 'c$ >c$ c#c$ cc c cB c c c c c $ c c c 1 c 2c Año ,,"c ,,%c ,,(c ,,+c ,,c
Índice de Solvencia ,(c ,"c c ,+c c
c ccc,"c ccc,(ccccccccccccccccccccccccccccccccccccccccccccccccc- cMc,c ccc,+ccccccccccccccccccccccccccccccccccccccccccccccccc- Mcc: #c$ c cccccccccccccccccccccccccccccccccccccccccccccccccccc- cMc,+c cccc
, ,cc cMc,c c
c 3ntegrantes: 7' 'c #c! cF '$Bcc c c c c c c c c c c c c GGrc c
EJERC3CO o. 2
c c c $ c c 'c$ >c$ c#c$ cc c cB c c c c c $ c c c 1 c 2c Año ,, c ,,"c ,,%c ,,(c ,,+c ,,c ,c ,c
Índice de Solvencia ,c ,+c ,c ,c +(c ,c ,c ,c
c
c c c c c c c c c c c c c c c c c GGc c
!
c c $ c c 'c$ >c$ c#c$ cc c cB c c c c c $ c c c 1 c 2c Año ,, c ,,"c ,,%c ,,(c ,,+c ,,c ,c ,c
Índice de Solvencia ,c ,+c ,c ,c +(c ,c ,c ,c
cc,c cc,c cc,+ccccccccccccccccccccccccccccccccccccccccccccccc- cMc+%c cc+(ccccccccccccccccccccccccccccccccccccccccccccccc- cMc,c cc,ccccccccccccccccccccccccccccccccccccccccccccccc- cMc++c cc,c cc,cccccccccccccccccccccccccccccccccccccccc+(cPc,cMc++cccMc++c cc,cccccccccccccccccccccccccccccccccccccccccccc %(cc(cMc+%cc
c 3ntegrantes: 7' 'c #c! cF '$Bcc c c c c c c c c c c c c c c c c c GG c c
% & EJERC3CO o. 1
CL3E ES
cccccccccc# c
Año
alor Absoluto
,,,c ,,c ,,c ,,c ,,c ,, c ,,"c ,,%c ,,(c ,,+c ,,c ,c
>,,>,,,c > ,>,,,c >,,>,,,c >( ,>,,,c >+,,>,,,c >% ,>,,,c >+,>,,,c >%,>,,,c >,>,,,c >>,,,c >(%">,,,c >,>,,,c
c c c c c c c c c c c c c c c c c c c c c c c GGÎc c
!
CL3E ES
cccccccccc# c
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alor Absoluto
alor Relativa
endencia Relativa
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"Lc ( Lc "+Lc ,,Lc (,Lc %%Lc (,Lc ((,Lc ,,Lc % Lc +,Lc ""(,Lc
"Lc Lc ",(Lc ,,Lc + +Lc "(Lc (+%Lc +"Lc ++,Lc " Lc ,%,Lc ,Lc
c cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc G9 893 ;;<<<<< Õ 9Z45 I<< <=@:AI<< =@:A/c G9~4 =>@<<<< c / c& cMc "Lcc,,LcMc "Lc c G9 893 ;:@<<<< Õ 9Z45 I<< <=>=@I<< =>=@/c G9~4 =>@<<<< c / c& cMc( Lcc,,LcMc Lc c :I<<<<< G9 893 I<< <A:H;I<< A:H;/c Õ 9Z45 =>@<<<< G9~4 c / c& cMc"+Lcc,,LcMc",(Lc c G9 893 :H<<<<< Õ 9Z45 I<< <><=II<< ><=I/c G9~4 =>@<<<< c / c& cMc(,Lcc,,LcMc+ +Lc c Õ 9Z45
G9 893 :J@<<<< I<< <JJ:;I<< JJ:;/c G9~4 =>@<<<<
c GÑ c c
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G9 893 :H:<<<< I<< <>I<:I<< >I<:/c G9~4 =>@<<<<
c / c& cMc(,Lcc,,LcMc(+%Lc c Õ 9Z45
=;J<<<< G9 893 I<< <>><=I<< >><=/c =>@<<<< G9~4
c / c& cMc((,Lcc,,LcMc+"Lc c Õ 9Z45
;=:<<<< G9 893 I<< <@@<<<< G9~4
c / c& cMc ,,Lcc,,LcMc++,Lc c Õ 9Z45
G9 893 ;I;;<<< I<< <=:J@I<< =:J@/c G9~4 =>@<<<<
c / c& cMc% Lcc,,LcMc " Lc c Õ 9Z45
;>JA<<< G9 893 I<< <@H:<I<< @H:@<<<< G9~4
c / c& cMc +,Lcc,,LcMc,%,Lc c Õ 9Z45
G9 893 :;=<<<< I<< <AA><I<< AA>@<<<<
c / c& cMc""(,Lcc,,LcMc,Lc c c c c GÑGc c
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EJERC3CO o. 2
3 E AR3OS cccccccccc# c
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c
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,,Lc Lc ( Lc ,Lc ,Lc "+%Lc
c Õ 9Z45
G9 893 =@A<<< I<< I<@:II<< I<@:I/c G9~4 =::<<<
c / c& cMc, Lcc,,LcMc Lc c G9 893 =J<<<< Õ 9Z45 I<< I<>@@I<< I<>@@/c G9~4 =::<<< c / c& cMc,( Lcc,,LcMc( Lc c G9 893 @:<<<< Õ 9Z45 I<< I;;=<I<< I;;=
G9 893 JI<<<< I<< IA:HJI<< IA:HJ/c G9~4 =::<<<
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" EJERC3CO o. 1
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c c c c c c c c c c
EXPOS3C3O ES DE LOS EQU3POS
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Equipo 1 Áreas Productivas en las cuales Müxico sobre sale y sus principales competidores Equipo 2 El valor del dinero en el tiempo, aplicaciones a inversiones y proyectosc Equipo 3 Fuentes de financiamiento para PYMES
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