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B><C 65 C25;8G5==0O 4518B>@A:0O 704>;65==>ABL B@51C5B 4>?>;=8B5;L=KE 8AB>G=8:>2 45=56=KE A@54AB2. >;O 4518B>@A:>9 704>;65==>AB8 2 AB@C:BC@5 8<CI5AB20 >@30=870F88 2K@>A;0 A 11,9% 2 2009 3. 4> 25,5% 2 2011 3. (@8A.14). & & .. 8A. 14. >;O 4518B>@A:>9 704>;65==>AB8 2 AB@C:BC@5 0:B82>2  >@<0 "@0AB, 2009-2011 33. =0;87 ?0AA820 10;0=A0 (B01;. 3) ?>:070;, GB> 2K@>A :0: A>1AB25==K9, B0: 8 705<=K9 :0?8B0; :><?0=88. !>1AB25==K9 :0?8B0; 2K@>A 70 AG5B @>AB0 =5@0A?@545;5==>9 ?@81K;8 70 2009-2011 33. =0 3446 BKA.@C1. 8;8 =0 24,9%. 05<=K9 :0?8B0; ?@8 MB>< A>:@0B8;AO 70 8AA;54C5<K9 ?5@8>4 =0 1388 BKA.@C1. 8;8 2 1,11 @07 (@8A.15). "01;8F0 3 8=0<8:0 8 AB@C:BC@0 ?0AA82>2  >@<0 "@0AB, 2009-2011 33. & & & & & .. 2.3 =0;87 8 >F5=:0 D8=0=A>2>9 CAB>9G82>AB8 ?@54?@8OB8O  >@<0"@0AB $8=0=A>20O CAB>9G82>ABL D>@<8@C5BAO 2 ?@>F5AA5 2A59 ?@>872>4AB25==>-E>7O9AB25==>9 45OB5;L=>AB8 >@30=870F88. =0 2> <=>3>< 7028A8B >B =0;8G8O C >@30=870F88 A>1AB25==KE @5AC@A>2 8 ?@5645 2A53> ?@81K;8. '5< 1>;LH0O 4>;O ?@81K;8 =0?@02;O5BAO =0 @0728B85 ?@>872>4AB20, B5< CAB>9G8255 ?>;>65=85 >@30=870F88. 040G59 0=0;870 D8=0=A>2>9 CAB>9G82>AB8 O2;O5BAO >F5=:0 AB5?5=8 =57028A8<>AB8 >@30=870F88 >B 705<=KE 8AB>G=8:>2 D8=0=A8@>20=8O. > 40==K< D8=0=A>2>9 >BG5B=>AB8  >@<0 "@0AB 70 2009-2011 33. >?@545;O5< B8? D8=0=A>2>9 CAB>9G82>AB8 (B01;. 4). "01;8F0 4 =0;87 D8=0=A>2>9 CAB>9G82>AB8  >@<0 "@0AB, 2009-2011 33. >:070B5;82009201020111A>;NB=>5 87<5=5=85 70 2009-2011 33.1I0O 25;8G8=0 70?0A>2 (?)0;8G85 A>1AB25==KE >1>@>B=KE A@54AB2 (!!)$C=:F8>=8@CNI89 :0?8B0; ($)1I0O 25;8G8=0 8AB>G=8:>2 D>@<8@>20=8O 70?0A>2 ()$A = !! - ?$B = $ - ?$> =  - ?"@5E:><?>=5=B=K9 ?>:070B5;L B8?0 D8=0=A>2>9 A8BC0F88 S ($) = [S($A), S($B), S($>)] !! = 0?8B0; 8 @575@2K - =5>1>@>B=K5 0:B82K = A. 490 - A. 190 !! (2009 3.) = 90441 - 74013 = 16428 BKA.@C1. !! (2010 3.) = 93870 - 73941 = 19929 BKA.@C1. !! (2011 3.) = 93887  73945 = -19942 BKA.@C1. $ = (0?8B0; 8 @575@2K + >;3>A@>G=K5 ?0AA82K) - =5>1>@>B=K5 0:B82K = (A. 490 + A. 590) - A. 190 $ (2009 3.) = 90441 + 0 - 74013 = 16428 BKA.@C1. $ (2010 3.) = 93870 + 0 - 73941 = 19929 BKA.@C1. $ (2011 3.) = 93887 + 0  73945 = -19942 BKA.@C1.  = 0?8B0; 8 @575@2K + >;3>A@>G=K5 ?0AA82K + @0B:>A@>G=K5 :@548BK 8 709<K - =5>1>@>B=K5 0:B82K = A. 490 + A. 590 + A. 610 - A. 190  (2009 3.) = 90441 + 0 -0 - 74013 = 16428 BKA.@C1.  (2010 3.) = 93870 + 0 -0 - 73941 = 19929 BKA.@C1.  (2011 3.) = 93887 + 0 - 0  73945 = -19942 BKA.@C1. 0==K5 B01;8FK 4 3>2>@OB > B><, GB> D8=0=A>20O CAB>9G82>ABL  >@<0 "@0AB 70 2009-2011 33. A=878;0AL. ;O ?@54?@8OB8O E0@0:B5@=0 :@878A=0O D8=0=A>20O A8BC0F8O. !>1AB25==>3> :0?8B0;0 =5 E20B05B 4;O D8=0=A8@>20=8O <0B5@80;L=KE >1>@>B=KE A@54AB2, B> 5ABL ?>?>;=5=85 70?0A>2 845B 70 AG5B A@54AB2, >1@07CNI8EAO 2 @57C;LB0B5 70<54;5=8O ?>30H5=8O :@548B>@A:>9 704>;65==>AB8. @>872545< @0AG5B D8=0=A>2KE :>MDD8F85=B>2, E0@0:B5@87CNI8E D8=0=A>2CN CAB>9G82>ABL  >@<0 "@0AB. >MDD8F85=B D8=0=A>2>9 0:B82=>AB8 (?;5G> D8=0=A>2>3> @KG030, D8=0=A>2K9 ;525@846) E0@0:B5@87C5B AB5?5=L @8A:0 8=25AB8@>20=8O D8=0=A>2KE @5AC@A>2 2 40==CN >@30=870F8N. @>872545< @0AG5B ?> D>@<C;5:  EMBED MathType 6.0 Equation ,  EMBED MathType 6.0 Equation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