综合题：东方公司是一家生产企业，没有优先股，上年度的资产负债表（年末数）和利润表如下所示：

其他资料：

（1）公司的货币资金有80%属于经营资产，长期应付款中有40%是融资租赁引起的长期应付款；利润表中的资产减值损失是金融资产减值带来的损失，公允价值变动收益属于交易性金融资产公允价值变动产生的收益，投资收益全部是金融资产的投资收益。

（2）上年的股利分配为25万元，上年6月18日增发股票100万元，9月20日回购股票84万元。

（3）上年的经营性流动资产增加410万元，经营性流动负债增加240万元，经营性长期资产增加830万元，经营性长期负债增加80万元。

（4）东方公司管理层拟用改进的财务分析体系评价公司的财务状况和经营成果。收集了以下财务比率的行业平均数据：

要求：

（1）计算东方公司上年末的金融资产、金融负债、净负债、净经营资产；

（2）计算东方公司上年的平均所得税税率、税前经营利润、税后经营净利润和金融损益；

（3）计算东方公司上年度的经营营运资本增加、净经营性长期资产增加、净经营资产增加、股东权益增加、净负债增加；

（4）计算东方公司编制管理用现金流量表时用到的税后利息费用，并计算上年东方公司的实体现金流量和债务现金流量；

（5）根据其他资料（2）计算东方公司上年度的股权资本净增加、股权现金流量以及融资现金流量合计；

（6）计算东方公司上年度的净经营资产净利率、税后利息率、经营差异率、净财务杠杆、杠杆贡献率和权益净利率，分析其权益净利率高于或低于行业平均水平的原因；（时点指标按照年末数计算）

（7）如果今年净财务杠杆不能提高了，请指出提高权益净利率和杠杆贡献率的有效途径；

（8）在不改变经营差异率的情况下，东方公司今年想通过增加借款投资于净经营资产的方法提高权益净利率，请您分析一下是否可行；

（9）如果今年的净经营资产净利率为30%，税后利息率为14%，净财务杠杆为1.2，与上年比较，用因素分析法依次分析净经营资产净利率、税后利息率、净财务杠杆变动对权益净利率和杠杆贡献率的影响，并判断主要的影响因素。

It is not just Indian software and "business-process outsourcing" firms that are benefiting from the rise of the internet. Indian modern art is also on an upward spiral, driven by the aspirations of newly rich Indians, especially those living abroad, who use the internet to spot paintings and track prices at hundreds of gallery and auction websites. Prices have risen around 20-fold since 2000, particularly for prized names such as Tyeb Mehta and F. N. Souza.

There would have been "no chance" of that happening so fast without the internet, says Arun Vadehra, who runs a gallery in Delhi and is an adviser to Christie’s, an international auction house. He expects worldwide sales of Indian art, worth $200million last year, to double in 2006. It is still a tiny fraction of the $ 30 billion global art market, but is sizeable for an emerging market.

For newly rich often very rich-non-resident Indians, expensive art is a badge of success in a foreign land. "Who you are, and what you have, are on your walls," says Lavesh Jagasia, an art dealer in Mumbai. Indian art may also beat other forms of investment. A painting by Mr. Mehta that fetched $1.58million last September would have gone for little more than $100,000 just four years ago. And a $22million art-investment fund launched in July by Osian’s, a big Indian auction house, has grown by 4.1& in its first two months.

Scant attention was paid to modern Indian art until the end of the 1990s. Then wealthy Indians, particularly those living abroad, began to take an interest. Dinesh Vazirani, who runs Saffronart, a leading Indian auction site, says 60% of his sales go to buyers overseas.

The focus now is on six auctions this month. Two took place in India last week; work by younger artists such as Surendran Nair and Shibu Natesan beat estimates by more than 70%. Sotheby’s and Christie’s have auctions in New York next week, each with a Tyeb Mehta that is expected to fetch more than $1 million. The real question is tee fate of other works, including some by Mr. Souza with estimates of up to $600,000. If they do well, it will demonstrate that there is p demand and will pull up prices across the board. This looks like a market with a long way to run.

Which of the following is true according to the text（）

A. People attached importance to modern Indian art long before the end of 1980s

B. Rich Indians, particularly those living abroad, had a p passion for modern Indian art for ages

C. Prices at the emerging market of modern art had been climbing and then declining

D. Rich Indians did not show interest in modern Indian art until the end of the 1990s