【正文】 an. Lou held a joint interview with 27 media, including China Daily, the first in a series of interviews entitled Chinese Media Along the Silk Road. The interviews will be in Shaanxi and Gansu provinces and the Xinjiang Uygur autonomous region, as well as Kazakhstan, Uzbekistan and Turkey. The media group held the first interview on Wednesday morning in Xi39。s public security bureau shows some 100 foreign visitors enjoyed the 72hour policy by the end of March, most of them from the United States, the United Kingdom and Germany. Chengdu also reported robust growth in its overall tourist industry last year. Official statistics show that it received some 150 million tourists last year, an increase of 28 percent from 2021. Around million came from abroad, an increase of 12 percent. Total revenue from touris m surpassed 133 billion yuan ($). During his visit to Kazakhstan in September, Chinese President Xi Jinping proposed that China and Central Asia join hands to build a Silk Road economic belt to boost cooperation. The idea has been widely echoed in Central Asian countries, being an encouraging blueprint for Chinese areas along the Silk Road that has linked Asia and Europe for more than 2,000 years. In the next three weeks, China Daily reporters will travel through the belt in China and in Kazakhstan, Uzbekistan and Turkey. They will show the progress and expectations of the countries, businesses and peoples on the route. Shaanxi the start of the ancient Silk Road has positioned itself as the new starting point for the development of the Silk Road Economic Belt, which will strengthen China39。s ancient indigenous religion, while Du jiang yan is considered to be the oldest functioning watercontrol project in the world. Chengdu ranked third in tourist facilities, management and services among 60 Chinese cities in a customer satisfaction survey released last year. But, Li added that efforts are still needed to develop more touris m products, improve English services and provide accurate translation of traffic signs and scenic billboards. Zhao Yun, chairwoman of British Chamber of Commerce Southwest China, told China Daily that his colleagues found the policy very convenient. A British client once flew here and stayed for just one day to check her ordered goods, she said. Zhao was born in Shanxi province, but she has lived in Chengdu for more than 10 years. My life was like a running race moving from place to place. I also lived in Beijing and Shanghai before, she said. But Chengdu is a place that you never want to leave once settling down. It is now my second hometown, she said. If the environment is further improved, the city will attract more people to visit and live, with the 72hour visafree policy and pelling conditions in transportation, culture, climate and cuisine, he said. Foreigners also gave positive feedback on the policy. A spokesman from Dell Inc said the pany has a global hub of operation in Chengdu, so the threeday visa has an immediate and positive influence on the pany39。s level of internationalization. The policy will also bring direct economic revenue, Li said. Chengdu has many cultural legacies and is also a paradise for panda lovers with the world39。要求：計算該公司有關(guān)市場狀況的相關(guān)比率：每股收 6 益、每股股利、市盈率、股利支付率、 解： 每股收益＝ 25/50＝ （元） 每股股利＝ 10/50＝ （元） 市盈率＝ 12/＝ 24 股利支付 率＝ 100%＝ 40% Visafree policy brings Chengdu biz, tourism boost. Making national headlines several times, Chengdu39。 要求計算：甲、乙兩家公司經(jīng)濟(jì)增加值（ EVA） 解：甲公司： 經(jīng)濟(jì)增加值（ EVA）＝稅后凈營業(yè)利潤－資本成本＝稅后凈營業(yè)利潤 －投入資本總額平均資本成本率＝ －1000 %＝ 乙公司： 經(jīng)濟(jì)增加值（ EVA）＝稅后 凈營業(yè)利潤－資本成本＝稅后凈營業(yè)利潤－投入資本總額平均資本成本率＝ 90－1000 %＝ 25 1假定某上市公司只發(fā)行普通股，沒有稀釋性證券。 解： 銷售收入凈額＝ 12021－ 40－ 50－ 10＝ 11900（萬元） 應(yīng)收賬款的周轉(zhuǎn)次數(shù)＝ 11900/(180+220)/2＝ （次） 應(yīng)收賬款的周轉(zhuǎn)天數(shù)＝ 360/＝ （天） 存貨的周轉(zhuǎn)次數(shù)＝ 7600/（ 480+520） /2＝ (次 ) 存貨的周轉(zhuǎn)天數(shù)＝ 360/＝ （天） 流動資產(chǎn)的周轉(zhuǎn)次數(shù)＝ 11900/（ 900+940） /2＝ （次） 流動資產(chǎn)的周轉(zhuǎn)天數(shù)＝ 360/＝ （次） 1不同資本結(jié)構(gòu)下甲、乙 兩公司的有關(guān)數(shù)據(jù)如表示： 子公司甲 子公司乙 有息債務(wù)（利率為 10%） 700 200 凈資產(chǎn) 300 800 總資產(chǎn)（本題中，即“投入資本”） 1000 1000 息稅前利潤（ EBIT） 150 120 －利息 70 20 稅前利潤 80 100 －所得稅（ 25%） 20 25 稅后利潤 60 75 要求分別計算： 凈資產(chǎn)收益率（ ROE）； 總資產(chǎn)報酬率（ ROA、稅后）； 稅后凈營業(yè)利潤（ NOPAT）； 投入資本報酬率（ ROIC）。產(chǎn)品銷售成本 7600 萬元，年初、年末應(yīng)收賬款余額分別為 180 萬元和 220萬元；年初、年末存貨余額分別為 480萬元和 520 萬元；年初、年末流動產(chǎn)余額分別為 900 萬元和 940萬元。 2]＝ 3（次） 銷售凈利率＝ 1800247。（ 2）計算本年度產(chǎn)品銷售收入凈額和總資產(chǎn)周轉(zhuǎn)率、（ 3）計算銷售凈利率和凈資產(chǎn)利潤表。 解：流動資產(chǎn)＝ 80+40+120+280+50＝ 570（萬元） 流動比率＝流動資產(chǎn) /流動負(fù)債＝ 570/420＝ 速動資產(chǎn)＝流動資產(chǎn)－存貨－預(yù)付賬款＝ 570－ 280－ 50＝ 240（萬元） 速動比率＝速動資產(chǎn) /流動負(fù)債＝ 240/420＝ 由以上計算可知，該企業(yè)的流動比率為 〈 2，速動比率 〈 1，說明企業(yè)的短期償債能力較差，存在一定的財務(wù)風(fēng)險。 解：（ 1）母公司稅后目標(biāo)利潤＝ 2021（ 1－ 30%） 15%＝ 210（萬元） （ 2）子公司的貢獻(xiàn)份額 甲公司的貢獻(xiàn)份額＝ 210 80% 400/1000＝ （萬元） 乙公司的貢獻(xiàn)份額＝ 210 80% 300/1000＝ （萬元） 丙公 司的貢獻(xiàn)份額＝ 210 80% 300/1000＝ （萬元） （ 3）三個子公司的稅后目標(biāo)利潤： 甲公司的稅后目標(biāo)利潤＝ ＝ （萬元） 乙公司的稅后目標(biāo)利潤＝ ＝ 63（萬元） 丙公司的稅后目標(biāo)利潤＝ ＝ （萬元） 某企業(yè) 2021 年末現(xiàn)金和銀行存款 80萬元，短期投資40 萬元，應(yīng)收賬款 120 萬元，存貨 280 萬元，預(yù)付賬款50萬元；流動負(fù)債 420萬元。該公司現(xiàn)有甲、乙、丙三家控股子公司，母公司對三家子公司的投資總額為 1000 萬元，對各子公司的投資及所占股份見下表： 子公司 母公司投資額（萬元） 母公司所占股份 % 甲公司 400 100 乙公司 300 80 丙公司 300 65 假定母公司要求達(dá)到的權(quán)益資 本報酬率為 15%，且母公司的收益的 80%來源于子公司的投資收益，各子公司資產(chǎn)報酬率及稅負(fù)相同。 解：（ 1） A 子公司 2021 年增加的銷售額為 2 20%=元 A 子公司銷售增長而增加的投資需求為（ 18/2） =億元 A 子公司銷售增長而增加的負(fù)債融資量為（ 18/2）= 億元 A 子公司銷 售增長情況下提供的內(nèi)部融資量為 +2（ 1+20%） 10%（ 150%） = A 子公司外部融資需要量＝ － － ＝ （ 2）匯總計算見下表， 2021 年該企業(yè)集團(tuán)共需從外部融資 。 A 子公司 2021 年計劃提取折舊 。管理層認(rèn)為，公司銷售凈利率