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Page 1: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆ ✆✞✟✠ ✡☛☞✌✍☞✎

�✝✏✑✒✏✑✓✔

✏✕✖ ✕✗ ✘✙✘✚✛✜✢✘✢

✣✤✥✘✚✤✦✧ �✕✤✥✚✕✧ ★

✩✕✚✘✛✦✢✥✜✤✪ ✫

✝✬✘✚✦✥✜✕✤✢ ✭✮✯✪✘✥✜✤✪ ✰✫

✱✦✲✕✮✚ ✭✮✯✪✘✥✜✤✪ ✳

�✦✬✜✥✦✧ ✭✮✯✪✘✥✜✤✪ ✳

�✦✢✴ ✲✮✯✪✘✥✜✤✪ ✵

✶✦✥✜✕ ✷✤✦✧✸✢✜✢ ✰

✦✤✯ ✢✕✹✘ ✜✤✥✘✪✚✦✥✘✯ ✘✙✘✚✛✜✢✘✢ ★

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✺✻✂✞✠✻✟✂✼✽✻✟✾ ✿✽✾✾✞❀✞ ✽❁ ❂✽✄✠✼❃❄ ✟✻☎ ❅✟✻✟❀✞❄✞✻✂ ✍ ✺❂❅ ❆❄❇❈

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Page 2: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁�✂✄☎�✆✝ ✞✟�✂☎✟✝

Internal control No. 01

Internal control No. 02

Internal control No. 03

The "Blue Water" is a popular coffee shop in Little Rock, Arkansas. Bill, the head chef and Hilly, the waitress are long employed and trusted members of staff. It is customary practice that after having taken an order Hilly herself prepares and serves the drinks/beverages . No written order system has been established for the food items. The order is "shouted" directly to the chef in the kitchen area. As soon as a customer has paid for the consumption (for which an invoice is only handed out if requested) the total amount of cash taken is entered in the cash register.Required:George, the owner of this enterprise, has found that profits of the operation are dwindling and asks you to provide suggestions on how to strengthen the internal control procedures of the operation. Also state which characteristics of internal control are being violated in this operation?

Underground” – founded in 2008 is a highly successful pastry business. The firm has started off with just 1 small shop in the city centre of Manchester but has quickly expanded in this last two years. Now George Cheback “Mr. Pastry”, is heading a company with 6 outlets in the major cities of England and Scotland. He is planning to expand further and wants to set up more points of sales in the City of London but is hesitating as the business is still doing very well but profit seems not to improve as much as sales does. He is worried that further expansion will focus his managerial capacities too much on the new businesses and that the lack of internal control will cause him major problems.Required: Discuss which minimum cash controls for receipts (most of his business transactions are in cash) and disbursements you would recommend to him. Also discuss the effect of the shop layout and the cashier area has on the internal controls necessary.

The "Hoyos de Monterey" is an extremely popular cafeteria on the "Rambla", in the city centre of Barcelona. Approximately 600 customers are served every day. Fred and Ginger the co-owners of this cafe have a very strict control system in place for food and beverages served. However, they are encountering a major problem with their tobacco (cigarettes and cigars) sales. The procedures for this sideline of the main coffee business is that the waiters purchase a stock of cigarettes and cigars from the shop opposite the cafe. The invoices for these purchase are sent by the shop owner on a monthly basis to Fred. The waiters (there are at least six on duty at any time during the day) sell the cigarettes and cigars to customers, adding on 5% to the cost of the cigars/cigarettes. The money they receive is deposited in a box behind the bar counter. No posting is made in the cash register. Ginger, being responsible for the payment of invoices has found a substantial difference between the invoices from the tobacco shop and the money paid into the "tobacco box" .Please explain the weaknesses in the system and make suggestions how to properly control the sales of tobacco.

Page 3: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆✝✞✟✠✡☛

�☞✌✍✎✏✑✒✓✔✕ ✖✗

✘✂✙✡ ✚☎✠✡ ✠✞ ✟✙☎ ✛☎✞✟✝✜✄✝✡✟ ✢✝✡✝☛☎✄ ✣✂✄ ✤✥✙☎ ✚☎✞✟☎✄✡☎✄✤ ✝ ✡☎✦✧★ ☎✞✟✝✩✧✠✞✙☎✪ ✫✟☎✝✬✙✂✜✞☎ ✂✡ ✟✙☎

✂✜✟✞✬✠✄✟✞ ✂✣ ✥✂✭✩✞✟✂✡☎✮ ✢✠✞✞✂✜✄✠✯ ✘✂✙✡ ✙✝✞ ✪✂✡☎ ✞✂✭☎ ✭✝✄✬☎✟ ✄☎✞☎✝✄✆✙ ✦✠✟✙ ✟✙☎ ✣✂✧✧✂✦✠✡☛ ✣✠✡✪✠✡☛✞✰

✥✙☎ ☎✞✟✠✭✝✟☎✪ ✡✜✭✩☎✄ ✂✣ ✪✠✡✡☎✄ ✆✜✞✟✂✭☎✄✞ ✦✠✧✧ ✆✂✡✞✠✞✟ ✂✣✰

✱ ✲ ✂✣ ✟✙☎ ✆✜✞✟✂✭☎✄✞ ✂✣ ✟✙☎ ✤✳✂✧✪✡✜☛☛☎✟✤ ✝✡✪

✱ ✲ ✂✣ ✟✙☎ ✆✜✞✟✂✭☎✄✞ ✂✣ ✟✙☎ ✤✢✠✡☎✄✞✴ ✤ ✵✩✂✟✙ ✝✄☎ ✙✂✟☎✧✞ ✡☎✝✄✩★✶

✷✸ ✦✝✧✬✹✠✡✞ ✺☎✄ ✪✝★ ✪✜✄✠✡☛ ✟✙☎ ✦☎☎✬

✻✸ ✦✝✧✬✹✠✡✞ ✁✄✠✪✝★ ✟✙✄✂✜☛✙ ✫✜✡✪✝★

✪✜✄✠✡☛ ✟✄✝✪☎ ✣✝✠✄✞ ✠✡ ✟✙☎ ✡☎✝✄✩★ ☎✼✙✠✩✠✟✠✂✡ ✆☎✡✟✄☎ ✝✡ ✝✪✪✠✟✠✂✡✝✧ ✷✸ ✆✜✞✟✂✭☎✄✞ ✺☎✄ ✪✝★

✥✙☎ ✩✂✂✬✠✡☛ ✞✠✟✜✝✟✠✂✡ ✂✣ ✟✙☎ ✟✦✂ ✙✂✟☎✧✞ ✺✄☎✞☎✡✟✞ ✝✞ ✣✂✧✧✂✦✞✰

✽✆✟✂✩☎✄ ✾✂✿☎✭✩☎✄ ❀☎✆☎✭✩☎✄

✳✽❁❀✾❂✳✳❃✥✰ ❄✱✲ ❄✸✲ ❅✱✲

✥✙☎ ✤✳✂✧✪✡✜☛☛☎✟✤ ✙✝✞ ✞✂✭☎ ❆✱✸ ✄✂✂✭✞ ✝✡✪ ☎✼✺☎✆✟✞ ❆✯❅ ✆✜✞✟✂✭☎✄✞

✺☎✄ ✄✂✂✭ ✣✂✄ ✽✆✟✂✩☎✄ ✝✡✪ ✾✂✿☎✭✩☎✄ ✝✡✪ ❆✯❇ ✣✂✄ ❀☎✆☎✭✩☎✄

✽✆✟✂✩☎✄ ✾✂✿☎✭✩☎✄ ❀☎✆☎✭✩☎✄

✢❈✾❃✛✫✴ ❅✱✲ ❄✸✲ ❄✱✲

✥✙☎ ✤✢✠✡☎✄✞✴ ✤ ✂✆✆✜✺✝✡✆★ ✺☎✄ ✄✂✂✭ ✠✞ ❆✯❉ ☛✜☎✞✟✞ ✝✡✪ ✠✟ ✙✝✞ ❆✸✸ ✄✂✂✭✞

❊✪✪✠✟✠✂✡✝✧ ✟✂ ✟✙✝✟ ✘✂✙✡ ✠✞ ☎✞✟✠✭✝✟✠✡☛ ✟✙☎ ✣✂✧✧✂✦✠✡☛ ❋✹✭✝✞ ✺✝✄✟✠☎✞ ✩✜✞✠✡☎✞✞✰

✾✂✿☎✭✩☎✄ ✷✸ ✟✂ ✾✂✿☎✭✩☎✄ ❉✸ ✺☎✄ ☎✿☎✡✠✡☛ ✷✸ ✆✜✞✟✂✭☎✄✞

❀☎✆☎✭✩☎✄ ❆ ✟✂ ❀☎✆☎✭✩☎✄ ✷❉ ✺☎✄ ☎✿☎✡✠✡☛ ❉✱ ✆✜✞✟✂✭☎✄✞

✥✙☎✄☎ ✝✄☎ ✟✙☎ ✣✂✧✧✂✦✠✡☛ ✟✄✝✪☎ ✣✝✠✄✞ ✺✧✝✡✡☎✪✰

✽✆✟✂✩☎✄ ✻ ✹ ✽✆✟✂✩☎✄ ❇

✽✆✟✂✩☎✄ ❉✸ ✹ ✾✂✿☎✭✩☎✄ ✷

❀☎✆☎✭✩☎✄ ✷ ✹ ❀☎✆☎✭✩☎✄ ❅

✥✙☎ ✢☎✡✜ ✂✣ ✤✥✙☎ ✚☎✞✟☎✄✡☎✄✤ ✂✣✣☎✄✞ ✝ ✞☎✧☎✆✟✠✂✡ ✂✣ ✪✠✣✣☎✄☎✡✟ ✞✟✝✄✟☎✄✞✮ ✭✝✠✡ ✪✠✞✙☎✞ ✝✡✪ ✞✦☎☎✟✞ ✝✧✧

✣✂✄ ✟✙☎ ✞✝✭☎ ✺✄✠✆☎ ✂✣ ✷✸ ● ✺☎✄ ✺☎✄✞✂✡✯ ❈✟ ✠✞ ☎✞✟✠✭✝✟☎✪ ✟✙✝✟ ☎✝✆✙ ✆✜✞✟✂✭☎✄✞ ✆✂✡✞✜✭☎✞ ✩☎✿☎✄✝☛☎✞

✣✂✄ ✞✂✭☎ ❆✱ ● ✺☎✄ ✙☎✝✪✯ ❊✧✧ ✟✙✂✞☎ ✺✄✠✆☎✞ ❍✜✂✟☎✪ ✝✄☎ ✭☎✡✜ ✺✄✠✆☎✞ ✝✡✪ ✠✡✆✧✜✪☎ ❆✸✲ ■❊✥✯

✥✙☎ ✄☎✞✟✝✜✄✝✡✟ ✠✞ ✆✧✂✞☎✪ ✣✂✄ ✟✙☎ ✺☎✄✠✂✪ ❀☎✆☎✭✩☎✄ ✷✻ ✹ ✘✝✡✜✝✄★ ✷✯

✽✆✟✂✩☎✄ ❆ ✠✞ ✝ ✟✜☎✞✪✝★✯

❏✧☎✝✞☎ ✆✝✧✆✜✧✝✟☎ ✟✙☎ ✁✂✂✪✮ ❑☎✿☎✄✝☛☎ ✝✡✪ ✥✂✟✝✧ ✛☎✿☎✡✜☎ ✣✂✄ ✤✥✙☎ ✚☎✞✟☎✄✡☎✄✤ ✣✂✄ ✟✙☎ ✧✝✞✟

❍✜✝✄✟☎✄ ✂✣ ✟✙☎ ★☎✝✄✯

Page 4: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆✝✞✟✠✡☛

�☞✌✍✎✏✑✒✓✔✕ ✖▲

✥✙☎ ✤✫✝✧✭✂▼☎✄✂✤ ✠✞ ✝ ✺✂✺✜✧✝✄ ✞☎✝✞✠✪☎ ✄☎✞✟✝✜✄✝✡✟ ✠✡ ❑☎✄☛☎✡✮ ✾✂✄✦✝★✯ ✥✙☎ ✣✠✞✙ ✞✺☎✆✠✝✧✠✟✠☎✞

✝✄☎ ☎❍✜✝✧✧★ ✺✂✺✜✧✝✄ ✦✠✟✙ ✧✂✆✝✧ ✆✜✞✟✂✭☎✄✞ ✝✞ ✦✠✟✙ ✟✂✜✄✠✞✟✞ ✝✡✪ ☎✼✙✠✩✠✟✠✂✡ ✆✜✞✟✂✭☎✄✞✯

✥✙☎ ✆✜✞✟✂✭☎✄✞ ✣✄✂✭ ❑☎✄☛☎✡ ✜✞✜✝✧✧★ ✪✂ ✡✂✟ ✭✝✬☎ ✄☎✞☎✄✿✝✟✠✂✡✞✯ ✥✙☎ ☎✼✺☎✆✟☎✪ ✡✜✭✩☎✄ ✂✣

✦✝✧✬✹✠✡✞ ✣✂✄ ✦☎☎✬✪✝★✞ ✠✞ ❆✱ ✺☎✄ ✪✝★ ✣✂✄ ✧✜✡✆✙ ✝✡✪ ✷✸ ✣✂✄ ✪✠✡✡☎✄✯ ✽✡ ✦☎☎✬☎✡✪✞ ✵✁✄✠✪✝★ ◆

✫✝✟✜✄✪✝★✶ ★✂✜ ✆✝✡ ☎✼✺☎✆✟ ✷✱ ✣✂✄ ✧✜✡✆✙ ✝✡✪ ❉✸ ✣✂✄ ✪✠✡✡☎✄✯

✥✂✜✄✠✞✟✞ ✣✄☎❍✜☎✡✟ ✟✙☎ ✄☎✞✟✝✜✄✝✡✟ ✭✝✠✡✧★ ✪✜✄✠✡☛ ✧✜✡✆✙ ✟✠✭☎✯ ✥✙☎ ✡✂✯ ✪☎✺☎✡✪✞ ✂✡ ✟✙☎ ✟✄✝✿☎✧✧☎✄✞

✂✡ ✟✙☎ ✁☎✄✄★ ✩✂✝✟ ✣✄✂✭ ✫✦☎✪☎✡✯ ❂✞✜✝✧✧★ ✞✂✭☎ ✱✲ ✂✣ ✟✙☎✭ ✙✝✿☎ ✧✜✡✆✙ ✠✡ ✟✙☎ ✤✫✝✧✭✂▼☎✄✂✤✯

✾✂ ✪✠✡✡☎✄✞ ✝✄☎ ✞✂✧✪ ✣✂✄ ✟✙✠✞ ☛✄✂✜✺ ✝✞ ✟✙☎ ✩✂✝✟ ✧☎✝✿☎✞ ✝✟ ❆❇✯✸✸ ✝☛✝✠✡✯

✥✙☎ ✆✜✞✟✂✭☎✄ ✣✂✄☎✆✝✞✟ ✄☎✆☎✠✿☎✪ ✣✄✂✭ ✟✙☎ ✁☎✄✄★ ✂✺☎✄✝✟✂✄ ✠✞✰

✢✂✡✪✝★✹✚☎✪✡☎✞✪✝★ ❉✸✸ ✺☎✄ ✪✝★

✥✙✜✄✞✪✝★ ✷✱✸ ✺☎✄ ✪✝★

✁✄✠✪✝★ ◆ ✫✝✟✜✄✪✝★ ❆✱✸ ✺☎✄ ✪✝★

✫✜✡✪✝★ ✆✧✂✞☎✪

✥✙☎ ☎✼✙✠✩✠✟✠✂✡ ✝✄☎✝ ✦✠✧✧ ✩☎ ✂✺☎✡☎✪ ✣✄✂✭ ✥✙✜✄✞✪✝★ ✟✂ ✫✜✡✪✝★✯ ❈✟ ✠✞ ☎✼✺☎✆✟☎✪ ✟✙✝✟ ✝ ✧✝✄☛☎ ✡✜✭✩☎✄

✂✣ ✿✠✞✠✟✂✄✞ ✟✂ ✟✙☎ ☎✼✙✠✩✠✟✠✂✡ ✦✠✧✧ ✪✠✡☎ ✝✟ ✟✙☎ ✄☎✞✟✝✜✄✝✡✟ ✝✡✪ ✦✠✧✧ ✣✠✧✧ ✝✧✧ ✠✟✴✞ ❇✸ ✞☎✝✟✞ ✂✡ ☎✼✙✠✩✠✟✠✂✡ ✪✝★✞

✣✂✄ ✪✠✡✡☎✄✯

❈✡ ✂✄✪☎✄ ✟✂ ☛✜✝✄✝✡✟☎☎ ✝ ✺☎✄✣☎✆✟ ✞☎✄✿✠✆☎✮ ✟✙☎ ✺✄✂✺✄✠☎✟✂✄ ✂✣ ✟✙☎ ✤✫✝✧✭✂▼☎✄✂✤ ✪✂☎✞ ✡✂✟ ✦✝✡✟ ✟✂

✞☎✧✧ ✝ ✞☎✝✟ ✭✂✄☎ ✟✙✝✡ ✂✡✆☎ ✪✜✄✠✡☛ ✝ ✭☎✝✧ ✺☎✄✠✂✪✯ ✫✂✮ ✞☎✝✟ ✟✜✄✡✂✿☎✄ ✆✝✡ ✡✂✟ ☎✼✆☎☎✪ ❆✯

❏✧☎✝✞☎ ✺✄☎✺✝✄☎ ✟✙☎ ✣✂✄☎✆✝✞✟ ✣✂✄ ✟✙☎ ✡☎✼✟ ✦☎☎✬ ✢✂✡✪✝★ ✟✂ ✫✜✡✪✝★ ✺☎✄ ✭☎✝✧ ✺☎✄✠✂✪

Sunday Closed!

Page 5: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗✘

✙☎✆✠✚✞✡ ✙☎✆✠✚✞✡✛ ✜✆☎✢✄✝✞✠✎ ✜✆✠✆✎✄☎ ✟✣ ✝✤✄ ✥✄☎✢✄✦✄✧ ★✟✝✄✦✛ ✩✟✠✍✟✠ ✞✡ ✣✆✚✄✍ ✪✞✝✤ ✝✤✄ ✂☎✄✂✆☎✆✝✞✟✠ ✟✣

✝✤✄ ✆✠✠✌✆✦ ☞✌✍✎✄✝ ✣✟☎ ✤✞✡ ✍✄✂✆☎✝✜✄✠✝ ✣✟☎ ✝✤✄ ✧✄✆☎ ✫✬✭✮

★✄ ✌✡✄✡ ✝✤✄ ✞✠✚☎✄✜✄✠✝✆✦ ✆✠✍ ✝✤✄ ✯✥✥ ☞✌✍✎✄✝ ✆✂✂☎✟✆✚✤✰

★✞✡✝✟☎✞✚✆✦ ✍✆✝✆ ✱

✞✠ ✬✬✬✲✡ ✳ ✫✬✭✴ ✫✬✭✵ ✶✆☎✞✆✠✚✄ ✞✠ ✷ ✫✬✭✸ ✶✆☎✞✆✠✚✄ ✞✠ ✷

✹✟✝✆✦ ☎✄✺✄✠✌✄ ✻✛✭✫✭✰✼ ✻✛✫✵✻✰✬ ✭✻✽✰✴ ✽✰✬✷ ✻✛✽✫✵✰✸ ✻✫✰✸ ✭✰✬✷

✹✟✝✆✦ ✾✄☎✡✟✠✠✄✦ ✚✟✡✝✡ ✭✻✵✰✭ ✭✴✽✰✼ ✴✰✽ ✼✰✬✷ ✭✴✻✰✬ ✭✰✴ ✭✰✬✷

✁✣✣✞✚✄ ✚✟✡✝✡ ✱

✹✄✦✄✂✤✟✠✄ ✚✟✡✝✡ ✭✻✰✫ ✭✻✰✵ ✬✰✻ ✽✰✬✷ ✭✴✰✽ ✬✰✴ ✼✰✬✷

✾☎✞✠✝✞✠✎ ✿ ❀✝✆✝✞✟✠✄☎✧ ✴✰✵ ✴✰✮ ✬✰✫ ✽✰✬✷ ✵✰✫ ✬✰✽ ✼✰✬✷

✹☎✆✺✄✦ ✽✸✰✫ ✫✼✰✬ ❁✭✼✰✫❂ ❃✽✵✰✫✷ ✫✸✰✬ ✼✰✬ ✭✴✰✵✷

✾✟✡✝✆✎✄ ✵✰✵ ✵✰✮ ✬✰✫ ✽✰✬✷ ✸✰✫ ✬✰✽ ✼✰✬✷

❄✠✝✄☎✝✆✞✠✞✠✎ ✞✠✡✞✍✄ ★✟✝✄✦ ✫✼✰✸ ✫✫✰✫ ❁✫✰✴❂ ❃✭✬✰✻✷ ✫✽✰✭ ✬✰✮ ✼✰✬✷

❄✠✝✄☎✝✆✞✠✞✠✎ ✟✌✝✡✞✍✄ ★✟✝✄✦ ✼✰✵ ✻✰✼ ✬✰✵ ✭✼✰✮✷ ✵✰✫ ✭✰✸ ✽✽✰✽✷

✹✟✝✆✦ ✮✵✰✽ ✸✫✰✭ ❁✭✻✰✫❂ ❃✭✻✰✴✷ ✮✬✰✬ ✵✰✮ ✮✰✴✷

❅✍✺✄☎✝✞✡✞✠✎ ✱

✁✌✝✍✟✟☎❆ ✾☎✞✠✝ ✱

❇✆✎✆❈✞✠✄✡ ✼✰✬ ✬✰✬ ❁✼✰✬❂ ❃✭✬✬✰✬✷ ✴✰✬ ✴✰✬ ✬✰✬✷

❉✄✪✡✂✆✂✄☎✡ ✬✰✬ ✬✰✬ ✬✰✬ ✬✰✬✷ ✼✰✬ ✼✰✬ ✬✰✬✷

✾☎✟✍✌✚✝✞✟✠ ✫✰✴ ✬✰✬ ❁✫✰✴❂ ❃✭✬✬✰✬✷ ✭✰✽ ✭✰✽ ✬✰✬✷

❊✆✍✞✟ ✱

✹✞✜✄ ✭✫✰✬ ✭✫✰✼ ✬✰✼ ✽✰✬✷ ✭✽✰✴ ✭✰✫ ✭✬✰✬✷

✾☎✟✍✌✚✝✞✟✠ ✼✰✬ ✬✰✬ ❁✼✰✬❂ ❃✭✬✬✰✬✷ ✼✰✼ ✼✰✼ ✬✰✬✷

❋✟✠✡✌✦✝✆✠✝✡ ✭✰✴ ✭✰✫ ❁✬✰✼❂ ❃✫✻✰✬✷ ✭✰✸ ✬✰✴ ✻✬✰✬✷

✹✟✝✆✦ ✫✼✰✫ ✭✽✰✴ ❁✭✬✰✴❂ ❃✼✼✰✬✷ ✽✭✰✭ ✭✵✰✻ ✭✫✮✰✼✷

❇✄☎✚✤✆✠✍✞✡✞✠✎ ✱

❊✆✚✢ ✣✟✦✍✄☎✡ ✽✰✴ ✽✰✵ ✬✰✭ ✽✰✬✷ ✽✰✮ ✬✰✭ ✼✰✬✷

✁✝✤✄☎ ✡✄✦✦✞✠✎ ✆✞✍✡ ✫✰✼ ✫✰✻ ✬✰✭ ✽✰✬✷ ✫✰✴ ✬✰✭ ✼✰✬✷

✹✟✝✆✦ ✴✰✬ ✴✰✫ ✬✰✫ ✽✰✬✷ ✴✰✼ ✬✰✫ ✼✰✬✷

❊✄✡✄✆☎✚✤ ✱

●✌✄✡✝ ✤✞✡✝✟☎✧ ✬✰✬ ✬✰✬ ✬✰✬ ✬✰✬✷ ✬✰✬ ✬✰✬ ✬✰✬✷

✁✌✝✡✞✍✄ ❀✄☎✺✞✚✄✡ ✫✰✼ ✬✰✬ ❁✫✰✼❂ ❃✭✬✬✰✬✷ ✫✰✼ ✫✰✼ ✬✰✬✷

✹✟✝✆✦ ✫✰✼ ✬✰✬ ❁✫✰✼❂ ❃✭✬✬✰✬✷ ✫✰✼ ✫✰✼ ✬✰✬✷

✁✝✤✄☎ ✚✟✡✝✡ ✱

✾☎✟✜✟✝✞✟✠✆✦ ✎✞✣✝✡ ✫✰✵ ✼✰✴ ✭✰✮ ✵✬✰✼✷ ✼✰✸ ✬✰✫ ✼✰✬✷

❋✤☎✞✡✝✜✆✡ ✎✞✣✝✡ ✼✰✸ ✻✰✫ ✬✰✼ ✸✰✽✷ ✻✰✼ ✬✰✫ ✼✰✬✷

❍✞☎✄✚✝ ✜✆✞✦ ✫✰✫ ✫✰✽ ✬✰✭ ✽✰✬✷ ✭✰✻ ❁✬✰✸❂ ❃✽✽✰✸✷

✙✄✡✝✞✺✆✦✡ ✫✼✰✼ ✽✫✰✫ ✵✰✸ ✽✫✰✬✷ ✫✼✰✬ ❁✸✰✫❂ ❃✫✻✰✻✷

✹✟✝✆✦ ✽✼✰✭ ✼✼✰✽ ✭✬✰✫ ✫✮✰✸✷ ✽✻✰✵ ❁✸✰✴❂ ❃✭✮✰✼✷

✾✌☞✦✞✚ ❊✄✦✆✝✞✟✠✡ ✱

❅✎✄✠✚✧ ✣✄✄✡ ✭✫✰✬ ✭✫✰✼ ✬✰✼ ✽✰✬✷ ✭✫✰✮ ✬✰✻ ✼✰✬✷

✾✤✟✝✟✎☎✆✂✤✧ ✴✰✽ ✼✰✫ ❁✫✰✭❂ ❃✽✽✰✽✷ ✼✰✼ ✬✰✫ ✼✰✬✷

✹✟✝✆✦ ✭✸✰✽ ✭✴✰✴ ❁✭✰✵❂ ❃✮✰✻✷ ✭✵✰✫ ✬✰✵ ✼✰✬✷

✾☎✟■✄✚✝✡ ✱

✶✞✍✄✟ ✾☎✟✍✌✚✝✞✟✠ ✭✬✰✫ ✬✰✬ ❁✭✬✰✫❂ ❃✭✬✬✰✬✷ ✬✰✬ ✬✰✬ ✬✰✬✷

❏✠✝✄☎✠✄✝ ☎✄✡✄✆☎✚✤ ✬✰✬ ✬✰✬ ✬✰✬ ✬✰✬✷ ✭✰✫ ✭✰✫ ✬✰✬✷

✹✟✝✆✦ ✭✬✰✫ ✬✰✬ ❁✭✬✰✫❂ ❃✭✬✬✰✬✷ ✭✰✫ ✭✰✫ ✬✰✬✷

✹✟✝✆✦ ❇✆☎✢✄✝✞✠✎ ✽✼✮✰✴ ✽✫✴✰✬ ❁✫✽✰✴❂ ❃✴✰✵✷ ✽✼✮✰✭ ✫✽✰✬ ✵✰✭✷

✞✠ ✷ ✴✰✸✷ ✴✰✫✷ ✴✰✴✷

Page 6: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗✘ ❑▲✓▼

✾✦✄✆✡✄ ✆✡✡✞✡✝ ✞✠ ✂☎✄✂✆☎✞✠✎ ✝✤✄ ☞✌✍✎✄✝ ☞✧ ✌✡✞✠✎ ✝✤✄ ✣✟✦✦✟✪✞✠✎ ✆✡✡✌✜✂✝✞✟✠✡ ✱

✹✟✝✆✦ ☎✄✺✄✠✌✄ ❏✠✚☎✄✆✡✄ ✟✣ ✻ ✷

✹✟✝✆✦ ✾✄☎✡✟✠✠✄✦ ✚✟✡✝✡ ❏✠✚☎✄✆✡✄ ✟✣ ✽✰✻ ✷

❅✦✦ ✟✝✤✄☎ ✚✟✡✝✡ ✿ ✄◆✂✄✠✡✄✡ ❁✞✣ ✠✟✝ ✡✂✄✚✞✣✞✄✍ ✍✞✣✣✄☎✄✠✝✦✧❂ ✆✠ ✞✠✚☎✄✆✡✄ ✆✝ ✝✤✄ ☎✆✝✄ ✟✣ ✞✠✣✦✆✝✞✟✠ ❁✽✛✻ ✷❂

✁✣✣✞✚✄ ✚✟✡✝✡ ✱

✹☎✆✺✄✦ ✆✡ ✝✤✄ ✂☎✄✺✞✟✌✡ ✧✄✆☎ ❖ ✞✠✚☎✄✆✡✄ ✆✝ ☎✆✝✄ ✟✣ ✞✠✣✦✆✝✞✟✠ ❖ ✝☎✞✂✡ ✝✟ ✱

❄◆✂✄✚✝✄✍ ✚✟✡✝

✾☎✆✎✌✄ ✭✛✻✬✬ ✳

✹☎✆✺✄✦ ✝☎✆✍✄ ✣✆✞☎ ✫✛✻✬✬ ✳

P✆☎✡✆✪ ✭✛✫✬✬

❄✠✝✄☎✝✆✞✠✞✠✎ ✞✠✡✞✍✄ ★✟✝✄✦ ❇✆◆✞✜✌✜ ✚✄✞✦✞✠✎ ✟✣ ✳ ✫✰✬✬✬ ✂✄☎ ✜✟✠✝✤

❄✠✝✄☎✝✆✞✠✞✠✎ ✟✌✝✡✞✍✄ ★✟✝✄✦ ❇✆◆✞✜✌✜ ✚✄✞✦✞✠✎ ✟✣ ✳ ✼✰✬✬✬✰

❅✍✺✄☎✝✞✡✞✠✎ ✱ ✹✤✄ ✣✟✦✦✟✪✞✠✎ ✆✍✺✄☎✝✞✡✄✜✄✠✝ ✡✄☎✞✄✡ ✆☎✄ ✂☎✟■✄✚✝✄✍ ✱

✁✌✝✍✟✟☎❆ ✾☎✞✠✝ ✱ ✾☎✟✍✰ ❇✆✎✆❈✰ ❉✄✪✡✂✰

❇✆✎✆❈✞✠✄✡ ❏✜✆✎✄✛ ✫✼ ✆✍✡ ✆ ✭✫✬✛❃❃ ✬ ✫✛✸✸✬

❉✄✪✡✂✆✂✄☎✡ ❀✌✜✜✄☎ ✚✆✜✂✆✞✎✠✛ ✼ ✆✍✡ ✆ ✴✬✬ ✬ ✫✛✼✬✬

✙✟✟✍ ✙✄✡✝✞✺✆✦✡✛ ✭✫ ✆✍✡ ✆ ✫✫✬ ✻✬✬ ✫✛✴✼✬

✙✟✟✍ ✙✄✡✝✞✺✆✦✡✛ ✴ ✆✍✡ ✆ ✼✬✬ ✭✛✫✬✬ ✫✛✼✬✬

❊✆✍✞✟ ✱ ❉✟ ✆✚✝✞✺✞✝✧ ✂✦✆✠✠✄✍ ✝✤✞✡ ✧✄✆☎

❋✟✠✡✌✦✝✆✠✝✡ ✆✝ ✭✬ ✷ ✟✣ ✆✦✦ ✆✍✺✄☎✝✞✡✄✜✄✠✝ ✚✟✡✝✡

❇✄☎✚✤✆✠✍✞✡✞✠✎ ✱

❊✆✚✢ ✣✟✦✍✄☎✡ ❉✄✪ ☎✆✚✢ ✣✟✦✍✄☎✡ ✝✟ ☞✄ ✂☎✟✍✌✚✄✍✰ ✾☎✟✍✌✚✝✞✟✠ ✚✟✡✝✡ ✽✰✬✬✬✛ ✾☎✞✠✝✞✠✎

✚✟✡✝✡ ✣✟☎ ✭ ✧✄✆☎ ✼✰✬✬✬ ✳✰

❊✄✡✄✆☎✚✤ ✱

●✌✄✡✝ ✤✞✡✝✟☎✧ ❊✄✡✝☎✌✚✝✌☎✞✠✎ ✟✣ ✍✆✝✆ ☞✆✡✄ ☞✧ ✟✌✝✡✞✍✄ ✚✟✜✂✆✠✧ ✳ ✫✰✬✬✬✰

✁✌✝✡✞✍✄ ❀✄☎✺✞✚✄✡ ❀✄☎✺✞✚✄ ✝✟ ☞✄ ✍✞✡✚✟✠✝✞✠✌✄✍✰

✁✝✤✄☎ ✚✟✡✝✡ ✱

✾☎✟✜✟✝✞✟✠✆✦ ✎✞✣✝✡ ❉☎✰ ✹✟✝✆✦ ❋✟✡✝

◗✄✧ ☎✞✠✎✡ ✽✬✬✬ ✼✻✬✬

❋❍✲✡ ✫✼✬✬ ✵✫✬✬

❘✹✄✦✄✂✤✟✠✄✡❘ ✭✬✬✬ ✭✬✬✬

❋✆✢✄✡ ✭✫✬ ✭✫✬✬

❋✤☎✞✡✝✜✆✡ ✎✞✣✝✡ ❋✦✆✡✡✞✚ ❋❍✲✡ ✪✞✝✤ ✂✄☎✡✟✠✆✦✞✡✄✍ ✚✟✺✄☎ ✝✟ ✫✬✬✬ ✚✌✡✝✟✜✄☎✡✰ ✾☎✟✍✌✚✝✞✟✠

✚✟✡✝ ✟✣ ✚✟✺✄☎✡ ●✥✾ ✭✰✫✬✬✛ ❋✟✡✝ ✂✄☎ ❋❍ ✳✸✛✻✬✛ ✂✟✡✝✆✎✄ ✆✠✍ ✂✆✚✢✞✠✎

✂✄☎ ❋❍ ✳ ✫✰

❍✞☎✄✚✝ ✜✆✞✦ ✭✫ ❇✆✞✦✞✠✎✡ ✝✟ ✭✛✫✬✬ ✂✟✝✄✠✝✞✆✦ ✚✌✡✝✟✜✄☎✡ ✆✝ ✳✫✰✫✬ ✂✄☎ ✦✄✝✝✄☎✰

✙✄✡✝✞✺✆✦✡ ✹✟✝✆✦

❘❀✄✚☎✄✝✆☎✧ ✥☎✌✠✚✤❘✛ ✫✬✬ ✎✌✄✡✝✡ ✆✝ ✳ ✭✸✛❃❃ ✂✄☎ ✎✌✄✡✝ ✽✛✴✬✬

❙❃✜✆✡ ✂✆☎✝✧ ✝☎✆✺✄✦ ✆✎✄✠✝✡✛ ✭✫✬ ✎✌✄✡✝✡ ✆✝ ✫✻✳ ✂✄☎ ✎✌✄✡✝ ✽✛✬✬✬

✩✆✌✠✚✤ ✟✣ ✙✟✟✍ ✣✄✡✝✞✺✆✦✡✛ ✴◆✭✫✬ ✎✌✄✡✝✡ ✆✝ ✳ ✫✬ ✭✼✛✼✬✬

✾✌☞✦✞✚ ❊✄✦✆✝✞✟✠✡ ✱

❅✎✄✠✚✧ ✣✄✄✡ ✆✡ ✦✆✡✝ ✧✄✆☎ ❃ ❉✁ ✚✟✡✝ ✞✠✚☎✄✆✡✄

✾✤✟✝✟✎☎✆✂✤✧ ❉✄✪ ✂☎✟✍✌✚✝✞✟✠ ✣✟☎ ✝✟✝✆✦ ✤✟✝✄✦✛ ❚✌✟✝✆✝✞✟✠✡ ☎✄✚✄✞✺✄✍ ✆✝ ✳ ✭✫✰✬✬✬✰

✾☎✟■✄✚✝✡ ✱

✶✞✍✄✟ ✾☎✟✍✌✚✝✞✟✠ ❉✄✪ ✂☎✟✍✌✚✝✞✟✠✛ ❚✌✟✝✆✝✞✟✠✡ ☎✄✚✄✞✺✄✍ ✆✝ ✳ ✭✼✰✬✬✬✰

❏✠✝✄☎✠✄✝❆❋❉❉ ❀✝✆☎✝ ✟✣ ❏✠✝✄☎✠✄✝ ✚✆✜✂✆✞✎✠ ✆✝ ✼✬✬✛❃❃ ✂✄☎ ✜✟✠✝✤

❋❉❉ ✆✍✺✄☎✝✞✡✞✠✎ ✆✝ ✳✫✰✻✬✬ ✂✰❅✰

Page 7: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗❯

✹✤✄ ❘❱✆✞✦✤✟✌✡✄ ✹✆✺✄☎✠❘✛✆ ✻✬ ☎✟✟✜✡ ✤✟✝✄✦ ✞✡ ✟✂✄☎✆✝✄✍ ✆✡ ✆ ✤✟✦✞✍✆✧ ✤✟✝✄✦ ✟✠✦✧ ✍✌☎✞✠✎ ✝✤✄ ✡✌✜✜✄☎

✜✟✠✝✤✰ ✹✤✄ ✟✂✄☎✆✝✞✟✠ ✞✡ ✟✂✄✠ ✣☎✟✜ ❇✆✧ ✭ ✝✞✦✦ ❀✄✂✝✄✜☞✄☎ ✽✬ ✄✆✚✤ ✧✄✆☎✰ ✥✄✡✞✍✄✡ ✝✤✄ ✼❲ ✡✝✆✠✍✆☎✍

☞✄✍☎✟✟✜✡ ❁✆✦✦ ✄❚✌✞✂✂✄✍ ✪✞✝✤ ✄✞✝✤✄☎ ✢✞✠✎ ☞✄✍✡ ✟☎ ✝✪✞✠ ☞✄✍✡❂✛ ✝✤✄ ✎✄✠✄☎✆✦ ✜✆✠✆✎✄☎ ❄✦✺✞✡ ✾✰ ◗✞✠✎

✆✦✡✟ ✟✂✄☎✆✝✄✡ ✝✤✄ ❘✥✦✌✄ ❀✌✄✍✄ ✥✆☎❘ ❁✟✂✄✠ ✍✆✞✦✧ ✍✌☎✞✠✎ ✝✤✄ ✡✄✆✡✟✠❂✰

●✄✠✄☎✆✦ ✞✠✣✟☎✜✆✝✞✟✠ ✱

✶✆✦✌✄ ✆✍✍✄✍ ✝✆◆ ❁✶❅✹❂ ✟✠ ☎✟✟✜✡ ✭✬✰✬✬✷

✣✟✟✍ ✭✬✰✬✬✷

☞✄✺✄☎✆✎✄ ✭✻✰✬✬✷

❏✠✚✟✜✄ ✝✆◆ ☎✆✝✄ ✼✬✰✬✬✷

❅ ☎✄✡✝✆✌☎✆✠✝ ✚✦✟✡✄ ✝✟ ✝✤✄ ✤✟✝✄✦ ✂☎✟✺✞✍✄✡ ☞☎✄✆✢✣✆✡✝✛ ✦✌✠✚✤ ✆✠✍ ✍✞✠✠✄☎ ✟✠ ☎✄❚✌✄✡✝✰

✹✤✄ ✤✟✝✄✦ ✆✠✍ ☞✆☎ ✞✡ ✦✄✆✡✄✍ ✣✟☎ ✆✠ ✆✠✠✌✆✦ ✆✜✟✌✠✝ ✟✣ ❳ ✫✬✬✰✬✬✬✛❃❃

❇☎✰ ◗✞✠✎ ✤✆✡ ✞✠✺✄✡✝✄✍ ✞✠✝✟ ✄❚✌✞✂✜✄✠✝ ✣✟☎ ❳ ✻✬✬✰✬✬✬✛❃❃ ✦✆✡✝ ✧✄✆☎✰ ❍✄✂☎✄✚✞✆✝✞✟✠ ✟✺✄☎ ✻ ✧✄✆☎✡✰

✙✟☎ ✝✤✄ ✞✠✺✄✡✝✜✄✠✝ ✤✄ ✤✆✍ ✝✆✢✄✠ ✆ ✻❃✧✄✆☎ ✦✟✆✠ ✆✝ ✆ ✣✞◆✄✍ ✞✠✝✄☎✄✡✝ ☎✆✝✄ ✟✣ ✸ ✷ ✂✰❅✰

❊✄✂✆✧✜✄✠✝ ✟✣ ✝✤✄ ✦✟✆✠ ✝✆✢✄✡ ✂✦✆✚✄ ✆✝ ✝✤✄ ✄✠✍ ✟✣ ✝✤✄ ✻❃✧✄✆☎ ✂✄☎✞✟✍✰

❇✆✧ ❱✌✠ ❱✌✦ ❅✌✎ ❀✄✂

✁✚✚✌✂✆✠✚✧ ☎✆✝✄✡ ✼✬✰✬✬✷ ✮✬✰✬✬✷ ✮✬✰✬✬✷ ✮✬✰✬✬✷ ✴✻✰✬✬✷

❍✞✡✚✟✌✠✝ ✣✆✚✝✟☎ ✫✻✷ ✭✬✷ ✬✷ ✬✷ ✫✬✷

✾✌☞✦✞✡✤✄✍ ☎✆✝✄ ❁✞✠✚✦✰ ✶❅✹❂ ✂✄☎ ☎✟✟✜ ✭✫✬✰✬✬ ✭✫✬✰✬✬ ✭✫✬✰✬✬ ✭✫✬✰✬✬ ✭✫✬✰✬✬

❍✟✌☞✦✄ ✁✚✚✌✂✆✠✚✧ ✸✬✰✬✬✷ ✮✬✰✬✬✷ ✮✬✰✬✬✷ ✮✬✰✬✬✷ ✸✬✰✬✬✷

✹✤✄ ✥✦✌✄ ❀✌✄✍✄ ✥✆☎ ✟✣✣✄☎✡ ✆ ✦✞✜✞✝✄✍ ✡✄✦✄✚✝✞✟✠ ✟✣ ✡✠✆✚✢✡ ✆✠✍ ✍☎✞✠✢✡ ✟✠✦✧✰

✹✤✄ ✜✄✠✌ ✂☎✞✚✄✡ ✆☎✄ ✱ ✥✄✄☎ ✫✰✻✬

❀✟✣✝ ✍☎✞✠✢✡ ✫✰✻✬

★✆☎✍ ✦✞❚✌✄✌☎ ✽✰✬✬

❋✤✞✦✦✞ ✽✰✻✬

✥✌☎✎✄☎✡ ✽✰✻✬

✹✤✄ ❱✆✞✦✤✟✌✡✄ ✹✆✺✄☎✠ ✞✡ ✝✤✄ ✟✠✦✧ ✥✆☎ ✞✠ ✝✤✞✡ ✆☎✄✆ ✍✌✄ ✝ ✝✤✆✝ ✞✝ ✚✆✠ ☞✄ ✄◆✂✄✚✝✄✍ ✝✤✆✝ ✄✆✚✤ ✤✟✝✄✦

✎✌✄✡✝ ✎✟✄✡ ✝✤✄☎✄ ✄✺✄☎✧ ✠✞✎✤✝✰ ❅✍✍✞✝✞✟✠✆✦ ✝✟ ✝✤✆✝ ✦✟✚✆✦ ✂✄✟✂✦✄ ✣☎✟✜ ✝✤✄ ✠✄✆☎☞✧ ✺✞✦✦✆✎✄ ✆✠✍ ✡✝✆✣✣

✪✞✦✦ ✆✍✍ ✌✂ ✝✟ ✽✬ ✍✆✞✦✧ ✪✆✦✢❃✞✠ ✚✌✡✝✟✜✄☎✡✰

❄✆✚✤ ✺✞✡✞✝✟☎ ✝✟ ✝✤✄ ☞✆☎ ✪✞✦✦ ✤✆✺✄ ✝✪✟ ☞✄✄☎✡ ✟☎ ✡✟✣✝ ✍☎✞✠✢✡ ✟✠ ✆✺✄☎✆✎✄✰ ✫✬ ✷ ✟✣ ✝✤✄ ✚✌✡✝✟✜✄☎✡ ✪✞✦✦

✤✆✺✄ ✆ ✡✠✆✚✢✰ ❅ ✣✌☎✝✤✄☎ ✫✬ ✷ ✟✣ ✚✌✡✝✟✜✄☎✡ ✪✞✦✦ ✤✆✺✄ ✆✠ ✆✍✍✞✝✞✟✠✆✦ ✤✆☎✍ ✍☎✞✠✢✰

✁✝✤✄☎ ✡✟✌☎✚✄✡ ✟✣ ✞✠✚✟✜✄ ✱

✹✪✟ ✎✆✜☞✦✞✠✎ ✜✆✚✤✞✠✄✡ ✆☎✄ ✟✂✄☎✆✝✄✍✰ ❉✄✝ ✞✠✚✟✜✄ ✣☎✟✜ ✝✤✟✡✄ ✆✜✟✌✠✝✡ ✝✟ ❳ ✼✰✻✬✬ ✂✄☎ ✜✟✠✝✤✰

✙✞✡✤✞✠✎ ✦✞✚✄✠✡✄✡ ✆☎✄ ✞✡✡✌✄✍✰ ✵✬ ✷ ✟✣ ✝✤✄ ✎✌✄✡✝✡ ✆☎✄ ☞✌✧✞✠✎ ✟✠✄✰ ✹✤✄ ✚✟✡✝ ✂✄☎ ✦✞✚✄✠✡✄ ❁✌✠✦✞✜✞✝✄✍

✂✄☎✞✟✍❂ ✞✡ ❳ ✭✫✰❃❃ ❁❉✟ ✶❅✹ ✟✠ ✝✤✆✝❂✰

❋✟✡✝✡ ✆✠✍ ✄◆✂✄✠✡✄✡ ✱

❀✝✆✣✣ ✱ ❅✍✍✞✝✞✟✠✆✦ ✝✟ ❄✦✺✞✡ ✆✠✍ ✤✞✡ ✪✞✣✄ ✾☎✞✡✚✞✦✦✆✛ ✝✤✄✞☎ ✣✟✌☎ ❁✎☎✟✪✠ ✌✂❂ ✚✤✞✦✍☎✄✠ ✆✠✍ ✻ ✄✜✂✦✟✧✄✄✡

✆☎✄ ☞✌✡✧ ✞✠ ✝✤✄ ✤✟✝✄✦✰ ✹✤✄ ✚✟✡✝ ✂✄☎ ☎✄✎✌✦✆☎ ✄✜✂✦✟✧✄✄ ✞✡ ❳ ✫✰✻✬✬ ✂✄☎ ✜✟✠✝✤ ❁✞✠✚✦✌✡✞✺✄ ✟✣ ✆✦✦ ✝✆◆✄✡

✆✠✍ ✡✟✚✞✆✦ ✡✄✚✌☎✞✝✧ ✚✟✡✝✡❂✰ ❅✦✦ ✜✄✜☞✄☎✡ ✟✣ ✝✤✄ ◗✞✠✎ ✣✆✜✞✦✧ ✆☎✄ ☎✄✎✞✡✝✄☎✄✍ ✪✞✝✤ ✡✟✜✄ ✫✰✬✬✬✛✲❃❃❳

❁✆✦✡✟ ❘✆✦✦ ✞✠✚✦✌✡✞✺✄❘❂✰

✙✟✟✍ ✚✟✡✝ ✫✻✰✬✬✷

✥✄✺✄☎✆✎✄ ✚✟✡✝ ✫✬✰✬✬✷

✁✝✤✄☎ ✚✟✡✝✡ ✂✄☎ ✟✚✚✌✂✞✄✍ ☎✟✟✜ ❳ ✻✰✻✬

✁✝✤✄☎ ✚✟✡✝✡ ✞✠ ✝✤✄ ❘✥✦✌✄ ❀✌✄✍✄❘ ✥✆☎ ✂✄☎ ✟✂✄☎✆✝✞✠✎ ✜✟✠✝✤ ❳ ✽✰✻✬✬✛❃❃

❋✟✡✝ ✟✣ ✢✄✄✂✞✠✎ ✌✂ ✝✤✄ ✣✞✡✤✄☎✧ ✂✰❅✰ ✽✬✛✬✬✬✰❃❃

❅✍✜✞✠✞✡✝☎✆✝✞✟✠✛ ✜✆☎✢✄✝✞✠✎ ✆✠✍ ✜✆✞✠✝✄✠✆✠✚✄ ✄◆✂✄✠✡✄✡ ✂✰❅✰ ✸✬✛✬✬✬✰❃❃

❄✠✄☎✎✧ ✚✟✡✝ ✂✄☎ ✟✂✄☎✆✝✞✠✎ ✜✟✠✝✤ ❳ ✵✛✻✬✬✰❃❃

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✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗❯ ❑▲✓▼

✾✦✄✆✡✄ ✂☎✟✺✞✍✄ ✆✠ ✟✂✄☎✆✝✞✠✎ ☞✌✍✎✄✝ ✣✟☎ ✝✤✄ ❘❱✆✞✦✤✟✌✡✄ ✹✆✺✄☎✠❘ ✞✠ ✝✤✄ ✣✟✦✦✟✪✞✠✎ ✣✟☎✜✆✝ ✱

❅✜✟✌✠✝

❨✓✒✓✔❩✓✔❑❩ ❬ ❀✄✆✡✟✠ ❇✆✧ ❱✌✠ ❱✌✦ ❅✌✎ ❀✄✂

❅✺✆✞✦✆☞✦✄ ☎✟✟✜✡

✁✚✚✌✂✞✄✍ ☎✟✟✜✡

❉☎✰ ●✌✄✡✝✡ ✤✟✝✄✦

❉☎✰ ●✌✄✡✝✡ ✥✆☎

❅✺✄☎✆✎✄ ✍✆✞✦✧ ☎✆✝✄ ❁❅❍❊❂

❭❪▼✖✏✓ ❫✔✕ ❴❵ ❬

❊✟✟✜✡ ☎✄✺✄✠✌✄

✙✟✟✍ ☎✄✺✄✠✌✄

✥✄✺✄☎✆✎✄ ☎✄✺✄✠✌✄

✙✞✡✤✞✠✎ ✦✞✚✄✠✡✄

●✆✜☞✦✞✠✎

✹✟✝✆✦ ☎✄✺✄✠✌✄

❛❜❩✓❩ ❝ ❞❡☛✏✕❩✏❩ ❬

❀✝✆✣✣ ✚✟✡✝✡

✙✟✟✍ ✚✟✡✝

✥✄✺✄☎✆✎✄ ✚✟✡✝

✁✝✤✄☎ ✄◆✂✄✠✡✄✡ ☎✟✟✜✡

✁✝✤✄☎ ✄◆✂✄✠✡✄✡ ✥✆☎

✁✝✤✄☎ ✄◆✂✄✠✡✄✡ ✣✞✡✤✄☎✧

❅✍✜✞✠✞✡✝☎✆✝✞✟✠✛ ✜✆☎✢✄✝✞✠✎ ✿

✜✆✞✠✝✄✠✆✠✚✄ ✚✟✡✝✡

❄✠✄☎✎✧ ✚✟✡✝

✹✟✝✆✦ ✚✟✡✝✡ ✿ ✄◆✂✄✠✡✄✡

�☛✏✑✒✓✔✕✖ ☛✑❜❢✔✓

✩✄✆✡✄ ✟✣ ✦✆✠✍ ✿ ☞✌✞✦✍✞✠✎

❍✄✂☎✄✚✞✆✝✞✟✠

❏✠✝✄☎✄✡✝

❣✑❜❢✔✓ ❤✏❢❜✑✏ ✓✒❡

❏✠✚✟✜✄ ✝✆◆

✐✏✓ ❜☛✏✑✒✓✔✕✖ ☛✑❜❢✔✓

Page 9: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗❥

✹✤✄ ✥☎✞✝✆✠✠✞✆ ★✟✝✄✦ ✞✠ ✩✟✠✍✟✠ ✞✡ ✆ ✻❲ ✂☎✟✂✄☎✝✧ ✟✂✄☎✆✝✄✍ ☞✧ ❏✠✝✄☎❃❋✟✠✝✞✠✄✠✝✆✦ ★✟✝✄✦✡✰ ❱✟✤✠

❅✚✝✟✠✛ ✝✤✄ ●✄✠✄☎✆✦ ❇✆✠✆✎✄☎ ✪✆✠✝✡ ✧✟✌ ✝✟ ✂☎✄✂✆☎✄ ✆ ☎✟✟✜✡ ☎✄✺✄✠✌✄ ☞✌✍✎✄✝ ✣✟☎ ✝✤✄

✣✟✦✦✟✪✞✠✎ ✧✄✆☎ ☞✆✡✄✍ ✟✠ ✝✤✄ ✤✞✡✝✟☎✞✚✆✦ ✣✆✚✝✡ ✆✠✍ ✝✤✄ ✆✡✡✌✜✂✝✞✟✠✡ ☞✄✦✟✪ ✱

❁✾✩❄❅❀❄ ❦❀❄ ✹★❄ ❀❅❇❄ ✙✁❊❇❅✹ ❧❧❂

✩✆✡✝ ✧✄✆☎✡ ✆✚✝✌✆✦ ☎✄✡✌✦✝ ❁✞✠ ✳❂ ✹✟✌☎✡❆ ❅✞☎✦✞✠✄

❀✄✎✜✄✠✝ ✹☎✆✠✡✞✄✠✝ ❋✟☎✂✟☎✆✝✄ ❋✟✠✣✄☎✲✚✄ ●☎✟✌✂✡ ❋☎✄✪ ✹✟✝✆✦

❅✺✆✞✦✆☞✦✄ ☎✟✟✜✡ ✵✽✛✬✬✬

✁✚✚✌✂✞✄✍ ☎✟✟✜✡ ✻✛✭✭✬ ✫✬✛✼✼✬ ✵✛✴✴✻ ✭✬✛✫✫✬ ✵✛✴✴✻ ✻✭✛✭✬✬

✥✌✡✞✠✄✡✡ ✜✞◆ ✭✬✷ ✼✬✷ ✭✻✷ ✫✬✷ ✭✻✷ ✭✬✬✷

●✌✄✡✝✡ ✴✛✭✽✫ ✫✽✛✻✬✴ ✮✛✭✮✸ ✭✸✛✽✮✴ ✵✛✴✴✻ ✴✼✛✸✮✵

❍✟✌☞✦✄ ✁✚✚✌✂✆✠✚✧ ✫✬✷ ✭✻✷ ✫✬✷ ✸✬✷ ✬✷ ✫✵✷

✾✌☞✦✞✡✤✄✍ ☎✆✝✄ ✭✵✬ ✭✵✬ ✭✵✬ ✭✫✬

❍✞✡✚✟✌✠✝ ✣✆✚✝✟☎ ✬✰✬✬✷ ✽✬✰✬✬✷ ✫✻✰✬✬✷ ✭✬✰✬✬✷

❅✺✄☎✆✎✄ ☎✆✝✄ ✭✻✼✰✻✻ ✭✬✸✰✭✸ ✭✭✻✰✮✭ ✮✸✰✭✸ ✮✬✰✮✬ ✭✬✮✰✽✮

❊✟✟✜✡ ☎✄✺✄✠✌✄ ✵✸✮✛✵✫✵ ✫✛✫✭✭✛✫✽✴ ✸✸✸✛✼✼✽ ✭✛✬✬✽✛✼✭✸ ✴✮✴✛✵✼✮ ✻✛✻✸✮✛✻✵✼

✹✤✄ ✂✌☞✦✞✡✤✄✍ ☎✆✝✄ ✞✠✚✦✌✍✄✡ ✭✬ ✷ ✶❅✹✰

♠❩❩❪♥☛✓✔❜✕❩ ❢❜✑ ✓♦✏ ❤❪▼✖✏✓ ❬

✹✤✄ ✂✌☞✦✞✡✤✄✍ ☎✆✝✄✡ ✞✠✚☎✄✆✡✄ ☞✧ ✭✻ ✳✰

❍✞✡✚✟✌✠✝ ✣✆✚✝✟☎✡ ☎✄✜✆✞✠ ✆✡ ✝✤✄✧ ✆☎✄✰

✹✤✄ ✣✟✦✦✟✪✞✠✎ ✚☎✄✪ ✚✟✠✝☎✆✚✝✡ ✤✆✺✄ ☞✄✄✠ ✚✟✠✚✦✌✍✄✍ ✱

❊✟✟✜✡

❉✞✎✤✝✡ ❊✆✝✄ ❲

❀✞✠✎✆✂✟☎✄ ❅✞☎✦✞✠✄✡ ✭✫ ☎✟✟✜✡ ✂✄☎ ✍✆✧ ✭✬✻

❋✆✦✄✍✟✠✞✆✠ ❅✞☎✪✆✧✡ ✫ ☎✟✟✜✡ ✟✠ ✻✫ ✍✆✧✡ ✂✰❅✰ ✭✭✻

❄✶❅ ❅✞☎ ✸ ☎✟✟✜✡ ✂✄☎ ✍✆✧ ✭✭✬

❍✄✧ ❉✰❋✰✥✰ ❅✞☎ ✣☎✄✞✎✤✝ ✭ ☎✟✟✜ ✂✄☎ ✍✆✧ ✭✫✻

❲ ❏✠✚✦✌✡✞✺✄ ✶❅✹

✹☎✆✠✡✞✄✠✝ ☎✟✟✜ ✠✞✎✤✝✡ ✱

❀✆✦✄✡ ✣✟☎✚✄ ✄✡✝✞✜✆✝✄✡ ✡✟✜✄ ✭✻ ☎✟✟✜✡ ✂✄☎ ✍✆✧ ✣✟☎ ✝✤✄ ✣✟✦✦✟✪✞✠✎ ✧✄✆☎✰

❋✟☎✂✟☎✆✝✄ ☎✟✟✜✡ ✱

❍✌✄ ✝✟ ✞✠✚☎✄✆✡✄✍ ✚✟✜✂✄✝✞✝✞✟✠ ✡✟✜✄ ✻ ✷ ✦✄✡✡ ✝✤✆✠ ✝✤✄ ✂☎✄✺✞✟✌✡ ✧✄✆☎✰

❋✟✠✣✄☎✄✠✚✄ ✆✠✍ ✄◆✤✞☞✞✝✞✟✠ ✱

✹✤✄☎✄ ✆☎✄ ✫✴ ✜✟☎✄ ✚✟✠✣✄☎✄✠✚✄ ✆✠✍ ✝☎✆✍✄ ✣✆✞☎ ✍✆✧✡ ✝✤✞✡ ✧✄✆☎✰ ❇✆☎✢✄✝✞✠✎ ✄✡✝✞✜✆✝✄✡ ✡✟✜✄ ✽ ✷

✜✟☎✄ ✝✤✆✠ ✝✤✄ ✧✄✆☎ ☞✄✣✟☎✄✰

✹✟✌☎✡❆●☎✟✌✂✡ ✱

❀✆✦✄✡ ✤✆✡ ✚✟✠✝☎✆✚✝✄✍ ✡✟✜✄ ✻✬ ✪✄✄✢✄✠✍ ❁✙☎✞✍✆✧ ✝✟ ❀✌✠✍✆✧❂ ✆✠✍ ✡✟✜✄ ✸✻ ✜✞✍ ✪✄✄✢ ❁✹✌✄✡✍✆✧

✝✟ ✙☎✞✍✆✧❂ ✎☎✟✌✂✡✰ ✁✠ ❅✺✄☎✆✎✄ ✄✆✚✤ ✎☎✟✌✂ ✤✆✡ ✫✸ ☎✟✟✜✡✰ ✙✌☎✝✤✄☎✜✟☎✄ ✣✟✌☎ ✝✟✌☎ ☎✟✟✜✡

✂✄☎ ✍✆✧ ✆☎✄ ✄✡✝✞✜✆✝✄✍✰

✹✤✄ ✍✟✌☞✦✄ ✟✚✚✌✂✆✠✚✧ ☎✄✜✆✞✠✡ ✆✡ ✦✆✡✝ ✧✄✆☎✰

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✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗♣

❱✆✚✢ ✹✰ ◗✞✂✂✄☎ ✞✡ ✆☞✟✌✝ ✝✟ ✜✆✠✆✎✄ ✝✤✄ ❘●✤✟✡✝✦✧ ●✟✟✍ ❀✟✣✝ ❏✚✄ ✾✆☎✦✟✌☎❘✰ ★✄ ✤✆✡ ✜✆✍✄ ✝✤✄ ✣✟✦✦✟✪✞✠✎

✆✡✡✌✜✂✝✞✟✠✡ ✱

✁✂✄✠ ✍✆✞✦✧ ✣☎✟✜ ❅✂☎✞✦ ✭ ✝✞✦✦ ❀✄✂✝✄✜☞✄☎ ✭✻

❅✺✆✞✦✆☞✦✄ ✡✄✆✝✡ ✻✻

❄◆✂✄✚✝✄✍ ✥✌✡✞✠✄✡✡ ✱

❅✂☎✞✦ ✽✛✻✬✬ ✹✟✝✆✦ ✚✌✡✝✟✜✄☎✡

❇✆✧ ✽✛✸✬✬ ❘

❱✌✠✄ ✴✛✬✬✬ ❘

❱✌✦✧ ✸✛✬✬✬ ❘

❅✌✎✌✡✝ ✸✛✻✬✬ ❘

❀✄✂✝✄✜☞✄☎ ✫✛✻✬✬ ❘

❱✆✚✢ ✞✠✝✄✠✍✡ ✝✟ ✟✣✣✄☎ ✱

✩✆☎✎✄ ✂✟☎✝✞✟✠✡ ✣✟☎ ✫✛✻✬ ✳

❀✜✆✦✦ ✂✟☎✝✞✟✠✡ ✣✟☎ ✭✰✵✻ ✳

❀✟✣✝ ❍☎✞✠✢✡ ✣✟☎ ✭✰✬✬ ✳

✆✦✦ ✞✠✚✦✌✡✞✺✄ ✟✣ ✶❅✹

✶✆✝ ✟✠ ✣✟✟✍ ✭✬ ✷

✶❅✹ ✟✠ ☞✄✺✄☎✆✎✄✡ ✫✬ ✷

✻✬ ✷ ✟✣ ✝✤✄ ✚✌✡✝✟✜✄☎✡ ✪✞✦✦ ✚✤✟✟✡✄ ✦✆☎✎✄ ✂✟☎✝✞✟✠✡ ✟✣ ✞✚✄❃✚☎✄✆✜

✻✬ ✷ ✟✣ ✝✤✄ ✚✌✡✝✟✜✄☎✡ ✪✞✦✦ ☞✌✧ ✆ ✡✟✣✝ ✍☎✞✠✢

✙✟✟✍ ✚✟✡✝ ✦✆☎✎✄ ✂✟☎✝✞✟✠✡ ✫✻ ✷

✙✟✟✍ ✚✟✡✝ ✡✜✆✦✦ ✂✟☎✝✞✟✠✡ ✫✸ ✷

✥✄✺✄☎✆✎✄ ✚✟✡✝ ✽✬ ✷

✩✆☞✟✌☎ ✚✟✡✝ ✽✬ ✷

❱✆✚✢ ✪✞✦✦ ✤✆✺✄ ✝✟ ✂✌☎✚✤✆✡✄ ✡✟✜✄ ✜✆✝✄☎✞✆✦✡ ✱

◗✞✝✚✤✄✠ ✌✝✄✠✡✞✦✡ ✻✰✸✬✬ ✳

❋✦✄✆✠✞✠✎ ✜✆✝✄☎✞✆✦✡ ✴✰✼✬✬ ✳

✩✞✚✄✠✡✄ ✣✄✄✡ ✭✰✬✬✬ ✳ ✂✄☎ ✡✄✆✡✟✠

❅✦✦ ✟✝✤✄☎ ✄◆✂✄✠✡✄✡ ✭✬ ✷

❉✟✠ ✟✂✄☎✆✝✞✠✎ ✚✟✡✝✡ ✱

❊✄✠✝ ✂✄☎ ✡✄✆✡✟✠ ❁✣✞◆✄✍ ✂✟☎✝✞✟✠❂ ✭✰✬✬✬ ✳

❊✄✠✝ ✂✄☎ ✡✄✆✡✟✠ ❁✺✆☎✞✆☞✦✄ ✂✟☎✝✞✟✠❂ ✻ ✷ ✟✣ ✝✟✝✆✦ ✠✄✝ ☎✄✺✄✠✌✄

❏✠✡✌☎✆✠✚✄ ✽✰✫✬✬ ✳ ✣✟☎ ✝✤✄ ✡✄✆✡✟✠

❏✠✚✟✜✄ ✝✆◆ ☎✆✝✄ ✽✬ ✷

✾✦✄✆✡✄ ✂☎✄✂✆☎✄ ✆✠ ✟✂✄☎✆✝✞✠✎ ☞✌✍✎✄✝ ❁✡✤✟✪✞✠✎ ✆✦✦ ✠✄✚✄✡✡✆☎✧ ✚✆✦✚✌✦✆✝✞✟✠✡ ✿ ✡✝✆✝✞✡✝✞✚✆✦ ✍✆✝✆❂ ✣✟☎ ✝✤✄

✡✄✆✡✟✠✰

Page 11: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗q

✾✦✄✆✡✄ ✂☎✄✂✆☎✄ ✆✠ ✟✂✄☎✆✝✞✠✎ ☞✌✍✎✄✝ ☞✧ ✌✡✞✠✎ ✝✤✄ ✣✟✦✦✟✪✞✠✎ ✢✄✧ ✍✆✝✆ ✿ ✝✤✄ ✣✟☎✜✆✝ ☞✄✦✟✪ ✱

rstt✉✈✇ ① ②③④ ⑤①⑥⑦⑥✇①⑧⑨

❅✺✆✞✦✆☞✦✄ ☎✟✟✜✡ ✭✫✬

✁✚✚✌✂✆✠✚✧ ✷ ✵✬✷ ❇✆✧ ✭ ✝✞✦✦ ❀✄✂✝✄✜☞✄☎ ✽✬

✁✚✚✌✂✆✠✚✧ ✷ ✼✬✷ ✁✚✝✟☞✄☎ ✭ ❃ ❅✂☎✞✦ ✽✬

❍✟✌☞✦✄ ✟✚✚✌✂✆✠✚✧ ✷ ✸✬✷ ❇✆✧ ✭ ✝✞✦✦ ❀✄✂✝✄✜☞✄☎ ✽✬

❍✟✌☞✦✄ ✟✚✚✌✂✆✠✚✧ ✷ ✻✬✷ ✁✚✝✟☞✄☎ ✭ ❃ ❅✂☎✞✦ ✽✬

❲ ✾✌☞✦✞✡✤✄✍ ✂☎✞✚✄ ❁✞✠✚✦✰ ✭✬ ✷ ✶❅✹❂ ✳✻✬ ❇✆✧ ✭ ✝✞✦✦ ❀✄✂✝✄✜☞✄☎ ✽✬

❲ ✂✄☎ ☎✟✟✜ ❲ ✾✌☞✦✞✡✤✄✍ ✂☎✞✚✄ ❁✞✠✚✦✰ ✭✬ ✷ ✶❅✹❂ ✳✽✻ ✁✚✝✟☞✄☎ ✭ ❃ ❅✂☎✞✦ ✽✬

❉✟ ✍✞✡✚✟✌✠✝✡ ✎✞✺✄✠

✾✆✧☎✟✦✦ ☎✆✝✞✟ ✻✬✷

✁✰ ❄◆✂✄✠✡✄✡ ☎✆✝✞✟ ✭✻✷

�☛✏✑✒✓✔✕✖ ✗⑩

✹✤✄ ❅✜✄☎✞✚✆✠ ★✟✝✄✦ ✞✠ ❅✜✡✝✄☎✍✆✜ ✤✆✡ ✂☎✟✍✌✚✄✍ ✝✤✄ ✣✟✦✦✟✪✞✠✎ ✆✠✠✌✆✦ ☎✄✡✌✦✝ ✞✠ ✝✤✄ ☎✟✟✜✡

✍✄✂✆☎✝✜✄✠✝ ✱

❅✺✆✞✦✆☞✦✄ ☎✟✟✜✡ ✭✮✸

❍✆✧✡ ✣✟☎ ✝✤✄ ✧✄✆☎ ✽✴✻

✁✚✚✌✂✆✠✚✧ ✷ ✵✫✷

❀✄✎✜✄✠✝ ✹✟✌☎✡ ✿ ❅✞☎✦✞✠✄

✹☎✆✠✡✞✄✠✝ ❋✟☎✂✟☎✆✝✄ ●☎✟✌✂✡ ❋☎✄✪ ✹✟✝✆✦

✁✚✚✌✂✞✄✍ ☎✟✟✜✡ ✽✛✴✼✫ ✫✬✛✸✭✼ ✫✽✛✼✭✻ ✼✛✭✴✽ ✻✫✛✬✽✼

✥✌✡✞✠✄✡✡ ✜✞◆ ✵✷ ✼✬✷ ✼✻✷ ✸✷ ✭✬✬✷

✾✌☞✦✞✡✤✄✍ ☎✆✝✄ ❁✠✄✝❂ ✭✸✻ ✭✸✻ ✭✸✻ ✭✸✻ ✭✸✻

❍✞✡✚✟✌✠✝ ✣✆✚✝✟☎ ✬✷ ✫✻✷ ✽✫✷ ✼✬✷ ✫✸✷

❉✄✝ ☎✆✝✄ ✭✸✻ ✭✽✮ ✭✫✴ ✭✭✭ ✭✽✼

❊✟✟✜✡ ☎✄✺✄✠✌✄ ✴✵✽✛✸✼✬ ✫✛✸✸✵✛✸✸✵ ✫✛✮✼✻✛✴✼✻ ✼✴✫✛✬✴✫ ✴✛✮✴✮✛✼✽✼

✙✟☎ ✝✤✄ ✣✟☎✝✤✚✟✜✞✠✎ ✧✄✆☎ ✝✤✄ ✣✟✦✦✟✪✞✠✎ ✤✆✡ ☞✄✄✠ ✆✡✡✌✜✄✍ ✱

✹✤✄ ✂✌☞✦✞✡✤✄✍ ☎✆✝✄✡ ✞✠✚☎✄✆✡✄ ☞✧ ✴ ✷

✹✤✄ ✍✞✡✚✟✌✠✝ ✣✆✚✝✟☎✡ ✣✟☎ ✝☎✆✠✡✞✄✠✝ ✆✠✍ ✝✟✌☎✡ ☎✄✜✆✞✠✰

✹✤✄ ✍✞✡✚✟✌✠✝ ✣✆✚✝✟☎✡ ✣✟☎ ✝✤✄ ✚✟☎✂✟☎✆✝✄ ✡✄✎✜✄✠✝ ✞✡ ✝✟ ☞✄ ✼✫ ✷

✹✤✄ ✆✞☎✦✞✠✄ ✚☎✄✪ ☎✆✝✄ ✤✆✡ ☞✄✄✠ ✚✟✠✝☎✆✚✝✄✍ ✝✟ ☞✄ ❁✠✄✝❂ ✭✫✬❶

✥✌✡✞✠✄✡✡ ✜✞◆ ✆✠✍ ✁✚✚✌✂✆✠✚✧ ✷ ☎✄✜✆✞✠

✾✦✄✆✡✄ ✚✆✦✚✌✦✆✝✄ ✱

✆✰❂ ✹✤✄ ✠✄✪ ✝✟✝✆✦ ✠✄✝ ☎✆✝✄

☞✰❂ ✹✟✝✆✦ ☎✟✟✜✡ ☎✄✺✄✠✌✄

✚✰❂ ✹✟✝✆✦ ✍✞✡✚✟✌✠✝ ✣✆✚✝✟☎

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✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗❷

❇✆☎✢✄✝ ❀✄✎✜✄✠✝ ❇✟✍✄✦ ✱ ❊❉ ❸ ❊✟✟✜ ❉✞✎✤✝✡

❅★❊ ❸ ❅✺✄☎✆✎✄ ★✟✌✡✄ ❊✆✝✄

❅✡✡✌✜✂✝✞✟✠ ✱ ❊❄✶ ❸ ❊✟✟✜✡ ❊✄✺✄✠✌✄

✷✥❇ ❸ ✥✌✡✞✠✄✡✡ ❇✞◆

❅✚✝✌✆✦ ✧✄✆☎ ✫✬✭✸ ❊✟✟✜

✠✞✎✤✝✡ ❅★❊

❏✠✍✞✺✞✍✌✆✦✡ ✱

✹☎✆✠✡✞✄✠✝ ✫✛✻✴✵ ✫✛✻✮✫

❋✟☎✂✰ ❋✟✜✂✆✠✞✄✡ ✮✛✬✬✫ ✭✛✵✻✵

✹☎✆✺✄✦ ❅✎✄✠✝✡ ✫✛✸✽✸ ✭✛✸✻✼

❇✄✄✝✞✠✎❆❋✟✠✣✄☎✄✠✚✄ ✼✛✫✫✻ ✫✛✭✭✭

✹✟✌☎✡❆❏✠✚✄✠✝✞✺✄✡ ✼✛✴✭✸ ✭✛✵✼✬

✾✆✚✢✆✎✄✡ ✭✫✛✫✫✸ ✭✛✼✻✼

❋☎✄✪ ✴✴✸ ✸✭✮

❋✟✜✂✦✞✜✄✠✝✆☎✞✄✡ ✭✛✬✸✼ ✬

●☎✆✠✍ ✹✟✝✆✦ ✽✵✛✫✽✬ ✭✛✴✮✽

✾✦✄✆✡✄ ✚✆✦✚✌✦✆✝✄ ✆ ☞✌✍✎✄✝ ✣✟☎ ✠✄◆✝ ✧✄✆☎ ❁✌✡✞✠✎ ✝✤✄ ✣✟☎✜✆✝ ☞✄✦✟✪❂ ☞✆✡✄✍ ✟✠ ✝✤✄ ✣✟✦✦✟✪✞✠✎ ✆✡✡✌✜✂✝✞✟✠✡ ✱

✶✟✦✌✜✄ ✾☎✞✚✄

✺✆☎✞✆✝✞✟✠✡ ✚✤✆✠✎✄✡

✹☎✆✠✡✞✄✠✝ ✬✰✬✬ ✽✰✬✬ ✞✠ ✷

❋✟☎✂✰ ❋✟✜✂✆✠✞✄✡ ✻✰✬✬ ✞✠ ✷ ✬✰✬✬

✹☎✆✺✄✦ ❅✎✄✠✝✡ ✭✬✼✰✬✬ ❊✟✟✜ ✠✞✎✤✝✡ ✬✰✬✬

❇✄✄✝✞✠✎❆❋✟✠✣✄☎✄✠✚✄ ✫✬✬✰✬✬ ❊✟✟✜ ✠✞✎✤✝✡ ✽✰✬✬ ✞✠ ✷

✹✟✌☎✡❆❏✠✚✄✠✝✞✺✄✡ ✻✰✬✬ ✞✠ ✷ ✬✰✬✬

✾✆✚✢✆✎✄✡ ✻✰✬✬ ✞✠ ✷ ✬✰✬✬

❋☎✄✪ ✬✰✬✬ ✽✰✬✬ ✞✠ ✷

❋✟✜✂✦✞✜✄✠✝✆☎✞✄✡ ✻✬✰✬✬ ❊✟✟✜ ✠✞✎✤✝✡ ✬✰✬✬

❃ ❀✤✟✪ ✝✤✄ ✚✤✆✠✎✄ ✞✠ ✝✟✝✆✦ ☎✄✺✄✠✌✄

❃ ✾☎✄✂✆☎✄ ✆ ☞✌✍✎✄✝ ✡✚✤✄✍✌✦✄ ✞✠ ✝✤✄ ✣✟☎✜✆✝ ☞✄✦✟✪

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✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗❷ ❑▲✓▼

❊✄✺✄✠✌✄✡ ✞✠ ✬✬✬✲✡ ❅✚✝✌✆✦ ✥✌✍✎✄✝ ✶✆☎✞✆✠✚✄ ✶✆☎✞✆✠✚✄

✫✬✭✸ ✫✬✭✮ ✞✠ ✷

❏✠✍✞✺✞✍✌✆✦✡ ✱

❊❉ ✫✛✻✴✵

✹☎✆✠✡✞✄✠✝ ❅★❊ ✫✛✻✮✫

❊❄✶ ✴✛✴✻✼

✥❇ ✷ ✴✰✮✷

❊❉ ✮✛✬✬✫

❋✟☎✂✰ ❋✟✜✂✆✠✞✄✡ ❅★❊ ✭✛✵✻✵

❊❄✶ ✭✻✛✸✭✵

✥❇ ✷ ✫✼✰✫✷

❊❉ ✫✛✸✽✸

✹☎✆✺✄✦ ❅✎✄✠✝✡ ❅★❊ ✭✛✸✻✼

❊❄✶ ✻✛✫✴✫

✥❇ ✷ ✵✰✴✷

❊❉ ✼✛✫✫✻

❇✄✄✝✞✠✎❆❋✟✠✣✰ ❅★❊ ✫✛✭✭✭

❊❄✶ ✸✛✮✭✮

✥❇ ✷ ✭✭✰✽✷

❊❉ ✭✸✛✴✽✫

❀✌☞✝✟✝✆✦ ❏ ❅★❊ ✭✛✮✴✵

❊❄✶ ✽✴✛✴✻✭

✥❇ ✷ ✻✬✰✬✷

●☎✟✌✂✡❆✾✆✚✢✆✎✄✡ ✱

❊❉ ✼✛✴✭✸

✹✟✌☎✡❆❏✠✚✄✠✝✞✺✄✡ ❅★❊ ✭✛✵✼✬

❊❄✶ ✸✛✬✽✻

✥❇ ✷ ✭✫✰✼✷

❊❉ ✭✫✛✫✫✸

✾✆✚✢✆✎✄✡ ❅★❊ ✭✛✼✻✼

❊❄✶ ✭✵✛✵✸✬

✥❇ ✷ ✽✫✰✸✷

❊❉ ✴✴✸

❋☎✄✪ ❅★❊ ✸✭✮

❊❄✶ ✻✼✵

✥❇ ✷ ✭✰✸✷

❊❉ ✭✵✛✻✭✼

❀✌☞✝✟✝✆✦ ❏❏ ❅★❊ ✭✛✻✬✻

❊❄✶ ✫✴✛✽✴✫

✥❇ ✷ ✼✵✰✬✷

❋✟✜✂✦✞✜✄✠✝✆☎✞✄✡ ❊❉ ✭✛✬✸✼

✥❇ ✷ ✫✰✮✭✷

❊❉ ✽✵✛✫✽✬

●☎✆✠✍ ✹✟✝✆✦ ❅★❊ ✭✛✴✮✽

❊❄✶ ✴✽✛✬✭✽

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✁✂✄☎✆✝✞✟✠✡ ☞✌✍✎✄✝✡

�☛✏✑✒✓✔✕✖ ✗❹

❇✆☎✢✄✝ ✡✤✆☎✄ ✜✟✍✄✦ ✱

❉☎✰ ❊✟✟✜✡ ✁✚✚✌✂✆✠✚✧

❅✡✡✌✜✂✝✞✟✠ ✱ ★✟✝✄✦✡ ✆✺✆✞✦✆☞✦✄ ✞✠ ✷

✥☎✞✡✝✟✦ ✭✼✴ ✻✵✷

★✞✦✝✟✠ ✴✫✬ ✴✭✷

❏★❋ ✼✮✫ ✴✸✷

❏✜✂✄☎✞✆✦ ✭✼✻ ✴✬✷

❇✆☎☎✞✟✝✝ ✽✭✬ ✵✴✷

✾✦✆❈✆ ✫✫✽ ✼✫✷

◗✄✜✂✞✠✡✢✞ ✭✻✻ ✴✸✷

✾✄☎✞✟✍ ❱✆✠✌✆☎✧ ✝✟ ❍✄✚✄✜☞✄☎

✾✦✄✆✡✄ ✚✆✦✚✌✦✆✝✄ ✝✤✄ ✆✚✝✌✆✦ ✜✆☎✢✄✝ ✡✤✆☎✄✛ ✂✟✝✄✠✝✞✆✦ ✜✆☎✢✄✝ ✡✤✆☎✄ ✆✠✍ ✝✤✄ ✜✆☎✢✄✝ ✂✄✠✄✝☎✆✝✞✟✠✰

✾✄☎ ✆✡✡✌✜✂✝✞✟✠ ✾✄☎ ✆✡✡✌✜✂✝✞✟✠ ❅✚✝✌✆✦ ✜✆☎✢✄✝ ✡✤✆☎✄ ❆

❊✟✟✜✡ ✆✺✆✞✦✆☞✦✄ ✁✚✚✌✂✞✄✍ ☎✟✟✜✡ ❲ ✂✟✝✄✠✝✞✆✦ ❁❘✣✆✞☎❘❂ ✡✤✆☎✄

✂✄☎ ✤✟✝✄✦❆✝✟✝✆✦ ✠☎✰ ✟✣ ✍✆✧✡

☎✟✟✜✡ ✆✺✆✞✦✆☞✦✄ ❅✚✝✌✆✦ ✟✚✚✰ ☎✟✟✜✡

✂✰ ✤✟✝✄✦❆

✝✟✝✆✦ ✟✚✚✌✂✞✄✍ ☎✟✟✜✡

✾✟✝✄✠✝✞✆✦

❘✙✆✞☎❘ ❅✠✠✌✆✦ ❅✚✝✌✆✦

❊✟✟✜✡ ❇✆☎✢✄✝ ✁✚✚✌✂✆✠✚✧ ✟✚✚✌✂✞✄✍ ❇✆☎✢✄✝ ❇✆☎✢✄✝

✆✺✆✞✦✆☞✦✄ ✡✤✆☎✄ ✷ ☎✟✟✜✡ ✡✤✆☎✄ ✾✄✠✄✝☎✆✝✞✟✠

✥☎✞✡✝✟✦

★✞✦✝✟✠

❏★❋

❏✜✂✄☎✞✆✦

❇✆☎☎✞✟✝✝

✾✦✆❈✆

◗✄✜✂✞✠✡✢✞

✹✟✝✆✦

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❺❻❼❽❾❿➀➁➂➃ ➄➅➆➇❼❿➃

➈➉➊➋➌➍➎➏➐ ➑➒

➓❼➂➇❿ ➔❾❽→➣↔ ➀➃ ❿↕❼ ➂❼➙ ➁➙➂❼❽ ➁↔ ❿↕❼ ➛➓→➅❼ ➜➝❼➛ ➞➁❿➁❽ ➜➂➂➟ ➠❼ ➀➃ ❾➃➡➀➂➇ ➢➁➅ ❿➁ ❾➃➃➀➃❿ ↕➀➤ ➀➂

❿↕❼ ❻❽❼❻❾❽❾❿➀➁➂ ➁↔ ➂❼➥❿ ➢❼❾❽➃ ➁❻❼❽❾❿➀➂➇ ➄➅➆➇❼❿➟ ➠❼ ➝❾➂ ❻❽➁➦➀➆❼ ❿↕❼ ↔➁→→➁➙➀➂➇ ➆❾❿❾➧

➨➀➂❾➂➝➀❾→ ➢❼❾❽ ➩❾➂➟ ➫ ❿➁ ➭❼➝❼➤➄❼❽ ➯➫➲ ➳➵➫➸

➺➦❾➀→❾➄→❼ ❽➁➁➤➃➧ ↔❽➁➤ ➩❾➂ ➫ ❿➀→→ ➩➅➂❼ ➯➵➲ ❿↕❼ ↔➁→→➁➙➀➂➇ ➢❼❾❽ ➻➼➫➸➳ ➆❾➢➃➽ ➳➾ ❽➁➁➤➃➟ ➚❼❽ ➩➅→➢ ➫ ❾➂

❼➥❿❼➂➃➀➁➂➃ ❿➁ ❿↕❼ ➄➅➀→➆➀➂➇ ➙➀→→ ➄❼ ↔➀➂➀➃↕❼➆ ❾➂➆ ❾➆➆➀❿➀➁➂❾→ ➳➵ ❽➁➁➤➃

➙➀→→ ➄❼ ❾➦❾➀→❾➄→❼ ↔➁❽ ➃❾→❼ ↔➁❽ ❿↕❼ ❽❼➤❾➀➂➀➂➇ ➫➸➪ ➆❾➢➃ ➁↔ ❿↕➀➃ ➢❼❾❽➟

➶➁➁➤ ❿➢❻❼➃➧ ❺↔ ❿↕❼ ➳➾ ❽➁➁➤➃ ➻↔❽➁➤ ➩❾➂ ➫ ❿➀→→ ➩➅➂❼ ➯➵➽ ➫➵ ❾❽❼ ➃➀➂➇→❼➃ ❾➂➆

➫➾ ❽➁➁➤➃ ❾❽❼ ➆➁➅➄→❼➃➟

➨❽➁➤ ➩➅→➢ ➫ ➁➂➙❾❽➆➃ ❿↕❼ ➛➓→➅❼ ➜➝❼➛ ➙➀→→ ➄❼ ❾➄→❼ ❿➁ ➃❼→→ ❾ ❿➁❿❾→ ➁↔

➯➵ ➆➁➅➄→❼ ❽➁➁➤➃ ❾➂➆ ➫➾ ➃➀➂➇→❼ ❽➁➁➤➃ ❻❼❽ ➆❾➢➟

❺➝➝➅❻❾➂➝➢ ↔➁❽❼➝❾➃❿➧ ➓❼➂➇❿ ❼➥❻❼➝❿➃ ❿↕❼ ↔➁→→➁➙➀➂➇ ❾➦❼❽❾➇❼ ➁➝➝➅❻❾➂➝➢ ➹➧

➩❾➂➅❾❽➢ ➘ ➩➅➂❼ ➴➾ ➹

➩➅→➢ ➘ ➭❼➝❼➤➄❼❽ ➾➵ ➹

➠❼ ❾→➃➁ ❼➥❻❼➝❿➃ ❿➁ ➁➝➝➅❻➢ ❼❾➝↕ ➭❺➷➓➬➮ ❽➁➁➤ ➁➂ ❾➦❼❽❾➇❼

❿↕❽➁➅➇↕➁➅❿ ❿↕❼ ➢❼❾❽ ➙➀❿↕ ➃➁➤❼ ➫➟➾ ➇➅❼➃❿➃➟

❺❿↕❼❽ ➃❼❽➦➀➝❼➃➧ ➱↕❼ ➛➓→➅❼ ➜➝❼➛ ➁↔↔❼❽➃ ➄❽❼❾➡↔❾➃❿ ❾➆➆➀❿➀➁➂❾→ ❿➁ ❾➝➝➁➤➤➁➆❾❿➀➁➂➟

➓❼➂➇❿ ❼➃❿➀➤❾❿❼➃ ❿↕❾❿ ➸➵ ➹ ➁↔ ❿↕❼ ➃➀➂➇→❼ ❽➁➁➤ ➇➅❼➃❿➃ ❾➂➆

✃➵ ➹ ➁↔ ❿↕❼ ➆➁➅➄→❼ ❽➁➁➤ ➇➅❼➃❿➃ ↕❾➦❼ ➄❽❼❾➡↔❾➃❿➟

❐❾→❼➃ ❻❽➀➝❼➃ ➧ ❐➀➂➇→❼ ❽➁➁➤➃ ➳➾ ❒

➻➀➂➝→➟ ➁↔ ➫➵➹ ❮➺➱➽ ➭➁➅➄→❼ ❽➁➁➤➃ ➻❻❼❽ ❽➁➁➤➽ ➪➵ ❒

➓❽❼❾➡↔❾➃❿ ❻❼❽ ❻❼❽➃➁➂ ➸ ❒

❰➁➃❿➃ Ï ❼➥❻❼➂➃❼➃➧ ➱➁❿❾→ ➝➁➃❿➃ ↔➀➥❼➆ ➫➵➵➵➵➵

➱➁❿❾→ ➝➁➃❿➃ ➦❾❽➀❾➄→❼ ➾➵➹

➜➂➝➁➤❼ ❿❾➥ ❽❾❿❼ ➯➵➹

➚→❼❾➃❼ ❻❽❼❻❾❽❼ ❾➂ ➁❻❼❽❾❿➀➂➇ ➄➅➆➇❼❿ ↔➁❽ ❿↕❼ ↔➁→→➁➙➀➂➇ ➢❼❾❽ ❾➂➆ ➃↕➁➙ ❿↕❼ ↔➁→→➁➙➀➂➇ ➡❼➢ ➆❾❿❾➧

➺➂➂➅❾→ ➁➝➝➅❻❾➂➝➢ ➹

➺➦❼❽❾➇❼ ❽➁➁➤ ❽❾❿❼

➚❽❼❿❾➥ ➀➂➝➁➤❼

Ð❼❿ ➀➂➝➁➤❼

➚❽➁↔➀❿ ➤❾❽➇➀➂

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❺❻❼❽❾❿➀➁➂➃ ➄➅➆➇❼❿➃

➈➉➊➋➌➍➎➏➐ Ñ➑

➱➁➂➢ ➚➀❻❼❽ ➀➃ ➝➁➂❿❼➤❻→❾❿➀➂➇ ❿➁ ❿❾➡❼ ➁➦❼❽ ❿↕❼ ➛❐❼❾➦➀❼➙➛ ❽❼➃❿❾➅❽❾➂❿ ↔➁❽ ❿↕❼ ➃➅➤➤❼❽ ➃❼❾➃➁➂➟

➠❼ ↕❾➃ ➤❾➆❼ ❿↕❼ ↔➁→→➁➙➀➂➇ ❾➃➃➅➤❻❿➀➁➂➃ ➧

Ò ❺❻❼➂ ➆❾➀→➢ ↔❽➁➤ ➞❾➢ ➫ ❿➀→→ ❐❼❻❿❼➤➄❼❽ ➯➵

Ò ➺➦❾➀→❾➄→❼ ➃❼❾❿➃ Ó➵ ➻➤➁❽❼ ❿↕❾➂ ➁➂❼ ➃❼❾❿➀➂➇ ❻❼❽ ➃↕➀↔❿ ❻➁➃➃➀➄→❼➽

Ò ➮➥❻❼➝❿❼➆ ➝➁➦❼❽➃ ➧

➞❾➢ ➫➲➾➾➵

➩➅➂❼ ➳➲➫➵➵

➩➅→➢ ➯➲✃➳➵

➺➅➇➅➃❿ ➯➲✃➳➵

❐❼❻❿❼➤➄❼❽ ➳➲➫➵➵

Ò ➞❼➂➅ ➧

❰↕➁➀➝❼ ➁↔ ❿➙➁ ➤❼➂➅➃ ➧ ❐❿❾➂➆❾❽➆ ↔➁❽ ➫➵➲➘➘ ❒ ➻➀➂➝→➟ ❮➺➱➽

❐❼❾↔➁➁➆ ↔➁❽ ➫➳➲➘➘ ❒ ➻➀➂➝→➟ ❮➺➱➽

Ò ❮➺➱ ➁➂ ↔➁➁➆ ➫➵➹

Ò ❮➺➱ ➁➂ ➄❼➦❼❽❾➇❼ ➳➵➹

Ò ➾➵ ➹ ➁↔ ➝➅➃❿➁➤❼❽➃ ➙➀→→ ➝↕➁➁➃❼ ❿↕❼ ➃❿❾➂➆❾❽➆ ➤❼➂➅➟

Ò ➓❼➦❼❽❾➇❼ ➝➁➂➃➅➤❻❿➀➁➂ ❻❼❽ ➝➁➦❼❽ ➪➲➳➵ ❒ ➻➂❼❿ ❮➺➱➽

Ò ➨➁➁➆ ➝➁➃❿ ➧ ❐❿❾➂➆❾❽➆ ➤❼➂➅ ➯➵ ➹

➛ ❐❼❾↔➁➁➆ ➤❼➂➅ ➯➳ ➹

Ò ➓❼➦❼❽❾➇❼ ➝➁➃❿ ➳➳ ➹

Ò ➬❾➄➁➅❽ ➝➁➃❿ ➾➵ ➹

Ò ➱➁➂➢ ➙➁➅→➆ ↕❾➦❼ ❿➁ ❻➅❽➝↕❾➃❼ ➝↕➀➂❾ ➻❽❼❻→❾➝❼➤❼➂❿ ❾➂➆ ❾➆➆➀❿➀➁➂➃ ❿➁ ❿↕❼ ❼➥➀➃❿➀➂➇

❿❾➄→❼➙❾❽❼➽➲ ❾ ↔❼➙ ❿❾➄→❼ ➤❾❿➃ ❾➂➆ ➃➁➤❼ ➡➀❿➝↕❼➂ ➅❿❼➂➃➀→➃ ➘ ❾→→ ❿➁➇❼❿↕❼❽ ❾➤➁➅➂❿➀➂➇

➅❻ ❿➁ ➫➟➾➵➵ ❒➟

Ò ➬➀➝❼➂➃❼ ↔❼❼➃ ➯➾➵ ❒

Ò ➺→→ ➁❿↕❼❽ ❼➥❻❼➂➃❼➃ ➫➵ ➹

Ð➁➂ ➁❻❼❽❾❿➀➂➇ ➝➁➃❿➃ ➧

Ò ➶❼➂❿ ❻❼❽ ➤➁➂❿↕ ➻↔➀➥❼➆ ❻➁❽❿➀➁➂➽ ➾➵➵ ❒

Ò ➶❼➂❿ ❻❼❽ ➤➁➂❿↕ ➻➦❾❽➀❾➄→❼ ❻➁❽❿➀➁➂➽ ➾ ➹ ➁↔ ❿➁❿❾→ ➂❼❿ ❽❼➦❼➂➅❼

Ò ➓➅➀→➆➀➂➇ ➀➂➃➅❽❾➂➝❼ ✃➳➵ ❒ ❻❼❽ ➤➁➂❿↕

Ò ➜➂➝➁➤❼ ❿❾➥ ❽❾❿❼ ➳➾ ➹

➚→❼❾➃❼ ❻❽❼❻❾❽❼ ❾➂ ➁❻❼❽❾❿➀➂➇ ➄➅➆➇❼❿ ➻➃↕➁➙➀➂➇ ❾→→ ➂❼➝❼➃➃❾❽➢ ➝❾→➝➅→❾❿➀➁➂➃ Ï ➃❿❾❿➀➃❿➀➝❾→ ➆❾❿❾➽ ↔➁❽

❿↕❼ ➃❼❾➃➁➂➟

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❺❻❼❽❾❿➀➁➂➃ ➄➅➆➇❼❿➃

➈➉➊➋➌➍➎➏➐ ÑÑ

➩➁↕➂ ❐❿❼❾➆➤❾➂ ➀➃ ❿↕❼ ➂❼➙ ➁➙➂❼❽ ➁↔ ❿↕❼ ➛❐❾❽➆➀➂❼ ➠➁❿❼→➛➟ ➱↕➀➃ ➀➃ ❾ ➃➤❾→→ ➳➵ ❽➁➁➤➃ →➁➆➇➀➂➇

↔❾➝➀→➀❿➢ ➁➦❼❽→➁➁➡➀➂➇ ❐❾➂ ➨❽❾➂➝➀➃➝➁➟ ➩➁↕➂ ↕❾➃ ❻❽➁➆➅➝❼➆ ❾ ➝➁➂➝❼❻❿ ➀➂ ❽➁➅➇↕ ➆❽❾↔❿ ↔➁❽➤ ❾➂➆

➀➃ ❾➃➡➀➂➇ ➢➁➅ ❿➁ ❾➃➃➀➃❿ ↕➀➤ ➀➂ ❿↕❼ ❻❽❼❻❾❽❾❿➀➁➂ ❾➂➆ ❼➦❾→➅❾❿➀➁➂ ➁↔ ❿↕❼ ➂❼➥❿ ➢❼❾❽➃ ➄➅➆➇❼❿➟

➩➁↕➂ ❼➃❿➀➤❾❿❼➃ ❿↕❾❿ ❿↕❼ ↕➁❿❼→ ➙➀→→ ➄❼ ➅➃❼➆ ➤❾➀➂→➢ ↔➁❽ ➄➅➃➀➂❼➃➃ ❻❼➁❻→❼ ➙↕➀➝↕ ➆➁ ➂➁❿ ➙❾➂❿ ❿➁

➃❿❾➢ ➀➂ ❿↕❼ ➝➀❿➢➟ ➨➁❽ ➙❼❼➡❼➂➆➃ ↕❼ ❾➃➃➅➤❼➃ ❿↕❾❿ ❿↕❼ ➤❾Ô➁❽➀❿➢ ➁↔ ➝➅➃❿➁➤❼❽➃ ➙➀→→ ➄❼ ❿➁➅❽➀➃❿➃

➻➆➅❽➀➂➇ ➃➅➤➤❼❽➽ ❾➂➆ →➁➝❾→ ➝➁➅❻→❼➃ ➁➂ ❾ ➙❼❼➡❼➂➆ ➇❼❿❾➙❾➢➟

➠❼ ❿↕❼❽❼↔➁❽❼ ➀➃ ➆➀↔↔❼❽❼➂❿➀❾❿➀➂➇ ➄❼❿➙❼❼➂ ❿↕❼ ↔➁→→➁➙➀➂➇ ➤❾❽➡❼❿ ➃❼➇➤❼➂❿➃ ❾➂➆ ➃❼❾➃➁➂➃ ❾❿ ❿↕❼

➁➝➝➅❻❾➂➝➢ ❽❾❿❼➃ ❾➃ ➃❿❾❿❼➆➧

➮➃❿➀➤❾❿❼➆

❺➝➝➅❻❾➂➝➢➹

➩❾➂ ➫ ➘ ➞❾➢ ➫➾ ➻➫➯➾ ➆❾➢➃➽ ➾➾➟➵➹

➞❾➢ ➫➴ ➘ ❐❼❻❿ ➯➵ ➻➫➯➸ ➆❾➢➃➽ ➴➾➟➵➹

❺➝❿ ➫ ➘ ➭❼➝ ➯➫ ➻Ó➳ ➆❾➢➃➽ ➴➵➟➵➹

➱↕❼ ➃❼➇➤❼➂❿❾❿➀➁➂ ➁↔ ➁➝➝➅❻➀❼➆ ❽➁➁➤➃ ➀➃ ❼➃❿➀➤❾❿❼➆ ❿➁ ➄❼ ➴➵➹ ➄➅➃➀➂❼➃➃ ❾➂➆ ➪➵➹ →❼➀➃➅❽❼➟

➺→→ ❽➁➁➤➃ ❾❽❼ ➃➅➀❿❼➆ ❿➁ ➄❼ ➁➝➝➅❻➀❼➆ ➄➢ ❿➙➁ ❻❼➁❻→❼➟ ➠➁➙❼➦❼❽➲ ❿↕❼ ➤➅→❿➀❻→❼ ➁➝➝➅❻❾➂➝➢ ❻❼❽ ❽➁➁➤

↔➁❽ ➄➅➃➀➂❼➃➃ ❿❽❾➦❼→→❼❽➃ ➀➃ ❼➃❿➀➤❾❿❼➆ ❿➁ ➄❼ ➫➟➵ ❾➂➆ ↔➁❽ →❼➀➃➅❽❼ ❿❽❾➦❼→→❼❽➃ ➫➟➸➟

➩➁↕➂ ➀➂❿❼➂➆➃ ❿➁ ➝↕❾❽➇❼ ➁➂→➢ ➁➂❼ ❽❾❿❼ ↔➁❽ ❾ ❽➁➁➤ ❻❼❽ ➂➀➇↕❿ Õ➴➾ ➻➀➂➝→➟ ➁↔ ➫➵➹ ❮➺➱➽ ❾➂➆ ↕❼ ➆➁❼➃ ➂➁❿

➁↔↔❼❽ ❾➂➢ ➆➀➃➝➁➅➂❿➃➟

➱↕❼ ➄❽❼❾➡↔❾➃❿ ➝↕❾❽➇❼ ➚➮➶ ➚➮➶❐❺Ð ➙➀→→ ➄❼ Õ ➸ ➻➀➂➝→➟ ➁↔ ➫➵➹ ❮➺➱➽➟ ➓❽❼❾➡↔❾➃❿ ➙➀→→ ➄❼ ➃❼❽➦❼➆ ➀➂ ❾

➂➀➝❼ →➁➅➂➇❼ ➀➂ ❿↕❼ ↕➁❿❼→ ❾➂➆ ➀❿ ➀➃ ❼➃❿➀➤❾❿❼➆ ❿↕❾❿ ✃➾➹ ➁↔ ❿↕❼ ↕➁❿❼→ ➝➅➃❿➁➤❼❽➃ ➙➀→→ ❿❾➡❼ ➄❽❼❾➡↔❾➃❿➟

➱↕❼ ➝➁➃❿ ➃❿❽➅➝❿➅❽❼ ↔➁❽ ❿↕❼➛❐❾❽➆➀➂❼ ➠➁❿❼→➛ ➙➀→→ ↔➁→→➁➙ ❿↕❼ ➀➂➆➅➃❿❽➢ ❾➦❼❽❾➇❼ ↔➁❽ ➃➅➝↕ ❻❽➁❻❼❽❿➀❼➃ ❾➂➆

❿↕❼➃❼ ❾❽❼➧

➬❾➄➁❽ ➝➁➃❿ ❽➁➁➤➃ ❾➂➆ ➄❽❼❾➡↔❾➃❿ ➯➾➟➵➹

➨➁➁➆ ➝➁➃❿ ❻❼❽➝❼➂❿❾➇❼ ➄❽❼❾➡↔❾➃❿ ➳➾➟➵➹

❺❿↕❼❽ ➁❻❼❽❾❿➀➂➇ ➝➁➃❿➃ ❽➁➁➤➃ ➫➵➟➵➹

Ð➁➂ ➁❻❼❽❾❿➀➂➇ ➝➁➃❿➃ ❻➟➺➟ ✃➾➲➵➵➵

➨➀➥❼➆ ➝↕❾❽➇❼➃ ❻➟➺➟ ➳➾➲➵➵➵

➜➂➝➁➤❼ ❿❾➥ ❻❼❽➝❼➂❿❾➇❼ ➯➵➟➵➹

➚→❼❾➃❼ ❻❽❼❻❾❽❼ ❾➂ ➁❻❼❽❾❿➀➂➇ ➄➅➆➇❼❿ ↔➁❽ ❿↕❼ ➢❼❾❽➲ ➃↕➁➙ ❿↕❼ ↔➁→→➁➙➀➂➇ ➡❼➢ ➆❾❿❾➧ ➻➯➵➽

➺➂➂➅❾→ ➁➝➝➅❻❾➂➝➢➹

➺➦❼❽❾➇❼ ❽➁➁➤ ❽❾❿❼ ↔➁❽ ❿↕❼ ➢❼❾❽

➜➓➨❰

Ð❼❿ ➀➂➝➁➤❼

❺❻❼❽❾❿➀➂➇ ❼↔↔➀➝➀❼➂➝➢ ❽❾❿➀➁

➚❽➁↔➀❿ ➤❾❽➇➀➂

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❺❻❼❽❾❿➀➁➂➃ ➄➅➆➇❼❿➃

➈➉➊➋➌➍➎➏➐ ÑÖ

➱↕❼ ➛➓❼❽➇❼❽➇➅❿➛ ➀➃ ❿↕❼ ➁➂→➢ ➪➘➃❿❾❽ ↕➁❿❼→ ➀➂ ➞➀❿❿❼→➄❼❽➇➟ ➚→❼❾➃❼ ❾➃➃➀➃❿ ➀➂ ❻❽❼❻❾❽➀➂➇ ❾➂ ➁❻❼❽❾❿➀➁➂➃ ➄➅➆➇❼❿ ↔➁❽ ❿↕❼

➅❻➝➁➤➀➂➇ ➙➀➂❿❼❽ ➃❼❾➃➁➂ ➄➢ ➅➃➀➂➇ ❿↕❼ ↔➁→→➁➙➀➂➇ ❾➃➃➅➤❻❿➀➁➂➃ ❾➂➆ ➡❼➢ ➆❾❿❾➲

❐❼❾➃➁➂➧ ➃❿❾❽❿➃ ➁➂ ➭❼➝❼➤➄❼❽ ➳➾ ❾➂➆ ❼➂➆➃ ➁➂ ➺❻❽➀→ ➫➪

➱↕❼ ➓❼❽➇❼❽➇➅❿ ➁↔↔❼❽➃ ➳➾➵ ➆➁➅➄→❼ ❽➁➁➤➃ ❾➂➆ ➾➵ ➃➀➂➇→❼ ❽➁➁➤➃

➱↕❼ ❼➥❻❼➝❿❼➆ ➁➝➝➅❻❾➂➝➢ ➹ ↔➁❽ ➆➁➅➄→❼ ❽➁➁➤➃ ➀➃ ➸➾➹➟ ↔➁❽ ➃➀➂➇→❼➃ ✃✃➹

➱↕❼ ❻❽➀➝❼➃ ❿↕➀➃ ➙➀➂❿❼❽ ❾❽❼➧ ➫➴➸× ↔➁❽ ❾ ➆➁➅➄→❼ ❽➁➁➤ ❾➂➆ Ó➾× ↔➁❽ ❾ ➃➀➂➇→❼ ➻❿↕❼➃❼ ➀➂➝→➅➆❼ ➫➵➹ ❮➺➱ ❾➂➆ ➄❽❼❾➡↔❾➃❿➽

➱↕❼ ➄❽❼❾➡↔❾➃❿ ➝↕❾❽➇❼ ❻❼❽ ❻❼❽➃➁➂ ➀➃ ➾× ➻❿↕➀➃ ➀➃ ➀➂➝→➅➆➀➂➇ ❮➺➱ ❾➂➆ ➀➃ ➀➂➝→➅➆❼➆ ➀➂ ❿↕❼ ❽➁➁➤➃ ❻❽➀➝❼➽

➜❿ ➀➃ ❾➃➃➅➤❼➆ ❿↕❾❿ ❼❾➝↕ ➆➁➅➄→❼ ❽➁➁➤ ➀➃ ➁➝➝➅❻➀❼➆ ➙➀❿↕ ❿➙➁ ❻❼➁❻→❼➲ ❼❾➝↕ ➃➀➂➇→❼ ❽➁➁➤ ➙➀❿↕ ➁➂❼ ❻❼❽➃➁➂

✃➵➹ ➁↔ ❾→→ ➝➅➃❿➁➤❼❽➃ ❾→➃➁ ➝↕➁➁➃❼ ↕❾→↔➄➁❾❽➆ ➻❿↕❾❿ ➀➃ →➅➂➝↕ ❺➶ ➆➀➂➂❼❽➽ ❾❿ ❾ ➃➅❽➝↕❾➇❼ ➁↔ ➫➾× ❻❼❽ ❻❼❽➃➁➂ ➻➀➂➝→➅➆➀➂➇

❮➺➱➽➲ ❿↕❼ ➁❿↕❼❽ ➯➵➹ ➝↕➁➁➃❼ ↔➅→→➄➁❾❽➆ ➻→➅➂➝↕ ➺Ð➭ ➆➀➂➂❼❽➽ ❾❿ ❾ ➃➅❽➝↕❾❽➇❼ ➁↔ ➳➾× ❻❼❽ ❻❼❽➃➁➂ ➻❾→➃➁ ➀➂➝→➟ ❮➺➱➽➟

➱↕❼ ❾➃➃➅➤❼➆ ➄❼➦❼❽❾➇❼ ➝➁➂➃➅➤❻❿➀➁➂ ❻❼❽ ➝➅➃❿➁➤❼❽ ❻❼❽ ➆❾➢ ➀➃ ➫➾× ➻➂❼❿ ➁↔ ❮➺➱➽

➮➥❻❼➂➃❼➃➧

➨➁➁➆ ➝➁➃❿ ➯➯➹

➓❼➦❼❽❾➇❼ ➝➁➃❿ ➳➾➹

❺❿↕❼❽ ❼➥❻❼➂➃❼➃➧ ❽➁➁➤➃ ➫➸× ↔➁❽ ❾ ➃➀➂➇→❼ ❽➁➁➤➲ ➳➳× ↔➁❽ ❾ ➆➁➅➄→❼

➺→→ ➁❿↕❼❽ ❼➥❻❼➂➃❼➃ ➨Ï ➓➧ ➴➾➹

➺ Ï Ø ➫➳➹

➞❾❽➡❼❿➀➂➇ Ï ❐❾→❼➃ ➫➾➹

✃➹ ➀➂❿❼❽❼➃❿ ➁➂ ❾ →➁❾➂ ➁↔ ➪➲➵➵➵➲➵➵➵×➟ ➱❾➡❼ ➾➵➹ ➁↔ ❿↕❼ ❾➂➂➅❾→ ➀➂❿❼❽❼➃❿ ↔➁❽ ❿↕❼ ➙➀➂❿❼❽ ➃❼❾➃➁➂

➭❼❻❽❼➝➀❾❿➀➁➂ ➫➲➳➵➵➲➵➵➵× ❻➟❾➟ ➱❾➡❼ ➾➵➹ ➁↔ ❿↕❾❿ ↔➁❽ ❿↕❼ ➙➀➂❿❼❽ ➃❼❾➃➁➂

❰➁❽❻➁❽❾❿➀➁➂ ❿❾➥ ❽❾❿❼ ➳➾➹

❮➺➱ ➁➂ ❽➁➁➤➃ ❾➂➆ ↔➁➁➆ ➫➵➹ ➁➂ ➄❼➦❼❽❾➇❼ ➳➵➹

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ÙÚÛÜÝÞ ÛÝßàáâã

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ìíÚÞîïá ðÚÞñáÞ ïã âíá òÜÜóã ôïõïãïÜö ÷ÚöÚàáÞ Üø ùíá ÷ÚúøÚïÞ ûÜâáîü ÙÜößÜöý ûá þÜÝîß îïñá âÜ

ñöÜþ âíá ÚõáÞÚàá íáÚßÿÜÝöâ öááßáß ïö âíá ûÜÝãáñáá✦ïöà ôá✦ÚÞâóáöâ øÜÞ âíá Ý✦ÿÜóïöà úáÚÞ

ÛÚãáß Üö Úö ÜÿÿÝ✦Úöÿú Üø ✧★ ✩ Úöß Üö âíá ÚããÝó✦âïÜöã Úöß øÚÿâã ÛáîÜþ ✪

✫áöáÞÚî ✬öøÜÞóÚâïÜö ✪

✭õÚïîÚÛîá ÞÜÜóã ✦áÞ ßÚú ✮✯★

✰✦áöïöà ßÚúã ✦áÞ úáÚÞ ✱✲✳ ßÚúã

ðÞÜßÝÿâïõïâú Ýöïâã ✪ ✦áÞ ßÚú ✭ööÝÚî ûáÚßÿÜÝöâ

✴✵áÿý ûÜÝãáñáá✦áÞ ö✶Ú ✷

✭ããý ✴✵áÿý ûÜÝãáñáá✦áÞ ö✶Ú ✷

✸îÜÜÞ ✹Ý✦áÞõïãÜÞ ✺★ òÜÜóã ✭ÿÿÜÞßïöà âÜ ðÞÜßÝÿâïõïâú

ôÚú ÷Úïßã ✷✻ òÜÜóã ✭ÿÿÜÞßïöà âÜ ðÞÜßÝÿâïõïâú

✼ïàíâ óÚïßã ✺★ òÜÜóã ✭ÿÿÜÞßïöà âÜ ðÞÜßÝÿâïõïâú

ðÝÛîïÿ òÜÜóã ìîáÚöáÞ ö✶Ú ✲

✭ããÝó✦âïÜöã øÜÞ âíá þÜÞñïöà âïóá✶ãíïøâã ✦áÞ áó✦îÜúáá ✦áÞ úáÚÞ ✪

✽ááñã ✦áÞ úáÚÞ ✯✮ þááñã

✽ÜÞñïöà âïóá ✦áÞ þááñ ✳★ íÜÝÞã

✽ÜÞñïöà âïóá ✦áÞ ßÚú ✻ íÜÝÞã

ôÚúã Üøø ✦áÞ þááñ ✮ ßÚúã

✾ÚÿÚâïÜö ✦áÞ úáÚÞ ✯ þááñã

ðÝÛîïÿ íÜîïßÚúã ✷✮ ßÚúã

✭õáÞÚàá ïîîöáãã ✦áÞ úáÚÞ ✧ ßÚúã

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ÙÚÛÜÝÞ ÛÝßàáâã

äåæçèé ê✡

✿òÜãïáã ìÚöâïöÚ✿ ïö ÙÜã ìíÞïãâïÚöÜã ïã Ú ÷á✵ïÿÚö ÞáãâÚÝÞÚöâ Üö âíá ãÜÝâí ÿÜÚãâ Üø ùáöáÞïøáý

❀áãïßáã ïâã áöÜÞóÜÝã øÞÜ❁áö ôÚï❂ÝïÞïã ïâ ãáÞõáã á✵ÿáîîáöâ øÜÜß Úîî úáÚÞ ÞÜÝößý ùíá Ü✦áöïöà

âïóáã øÜÞ âíïã ÞáÚîîú ÞáÿÜóóáößÚÛîá ✦îÚÿá ÚÞá ✪

✭õáÞÚàá öÜý

✰✦áöïöà âïóáã ✪ Üø ÿÜõáÞã

ãáÞõáß

÷ÜößÚú ÿîÜãáß

ùÝáãßÚú ✷✻ý★★ ❃ ✮✳ý★★ ✮✮★

✽áßöáãßÚú ✷✻ý★★ ❃ ✮✳ý★★ ✮✯★

ùíÝÞãßÚú ✷✻ý★★ ❃ ★✮ý★★ ✱✮★

✸ÞïßÚú ✷✻ý★★ ❃ ★✳ý★★ ✳✮★

✹ÚâÝÞßÚú ✷✻ý★★ ❃ ★✳ý★★ ✳✮★

✹ÝößÚú ✷✻ý★★ ❃ ★✮ý★★ ✮✻★

ðÞÜßÝÿâïõïâú Ýöïâã ✪

÷ÚöÚàáÞ ✷ ✦áÞ ❄áÚÞ

✭ããâý ÷àÞ✶❀ÚÞâáößáÞ ✷✯★ ìÜõáÞã

❀ÚÞâáößáÞ ✷✯★ ìÜõáÞã

✽ÚïâáÞã ✳★ ìÜõáÞã

ûáÚß ÿíáø ✷ ✦áÞ ❄áÚÞ

ìÜÜñã ✷★★ ìÜõáÞã

ìîáÚöáÞã ✲ ✦áÞ úáÚÞ

✭ããÝó✦âïÜöã øÜÞ âíá þÜÞñïöà âïóá✶ãíïøâã ✦áÞ áó✦îÜúáá ✦áÞ úáÚÞ ✪

✽ááñã ✦áÞ úáÚÞ ✯✮ þááñã

✽ÜÞñïöà âïóá ✦áÞ þááñ ✳✻ íÜÝÞã

✽ÜÞñïöà âïóá ✦áÞ ßÚú ✻ íÜÝÞã

ôÚúã Üøø ✦áÞ þááñ ✷ ßÚú

✾ÚÿÚâïÜö ✦áÞ úáÚÞ ✳ þááñã

ðÝÛîïÿ íÜîïßÚúã ✲ ßÚúã

✭õáÞÚàá ïîîöáãã ✦áÞ úáÚÞ ✮✳ ßÚúã

✭ããÝóïöà Úîî úáÚÞ ÞÜÝöß ÿÜõáÞã ãáÞõáß Úã ÚÛÜõá ✦îáÚãá ✦ÞÜõïßá Úö ÚõáÞÚàá íáÚßÿÜÝöâ

øÜÞ ✿òÜãïáã✿ ❅øÜÞ ãïó✦îïÿïâú âÚñá Ú ✱✲✳ ßÚúã úáÚÞ❆ý

48Hrs 1910 covers p.week

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ÙÚÛÜÝÞ ÛÝßàáâã

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✸ïöÚîîú úÜÝ íÚõá óÚöÚàáß âÜ øÝîøïî Üöá Üø úÜÝÞ ãáÿÞáâ ßÞáÚóãý ❄ÜÝ íÚõá øÜÝöß âíïã ÛáÚÝâïøÝî

ãâÞáâÿí Üø ÛáÚÿí ïö Ú ✦Ü✦ÝîÚÞ âÜÝÞïãâ ÞáãÜÞâ ãÜóáþíáÞá ïö ÷á✵ïÿÜý ✭öß ❃ úÜÝ íÚõá Ûááö ÚÛîá âÜ

âÚîñ Üîß ðÚÛîÜ ïöâÜ îáââïöà íïã ÛáÚÿí ÛÚÞ âÜ úÜÝ øÜÞ âíÞáá óÜöâíý ❄ÜÝ ÚÞá öÜþ ✦îÚööïöà âÜ ÞáÜ✦áö

âíá ÛÚÞ öá✵â ✹ÝößÚúý ❀áãïßáã àïõïöà ïâ Ú àÜÜß ✦Úïöâü ÛÞïöàïöà ïâ ÛÚÿñ âÜ ãâÚößÚÞß Úöß öÚóïöà ïâ

✿✹✦ááßú❇ã✿ ❅öÜâ á✵✦áÿâïöà Úöú ÚþÚÞßã øÜÞ ÜÞïàïöÚîïâú❆ úÜÝ íÚõá âÜ ✦Þá✦ÚÞá Ú ÛÝßàáâ ❅❈❈❆ ❃ Úöß úÜÝ

þÜÝîß îïñá âÜ ãâÚÞâ Üøø þïâí îÚÛÜÝÞ Úöß ✦ÚúÞÜîîý ❉✦ âÜ öÜþ úÜÝ íÚõá Ûááö ÚÛîá âÜ ÿÜîîáÿâ âíá

øÜîîÜþïöà ßÚâÚ ✪

✰✦áöïöà âïóáã ✪ ✴õáÞú ßÚú øÞÜó ★✺ý★★ ❃ ✷✮ý★★ ïö âíá óÜÞöïöà Úöß ÚøâáÞ âíá ✹ïáãâÚ

øÞÜó ★✳ý★★ âïîî ★✮ý★★ ïö âíá öïàíâý

ðáÞïÜß ✪ âíÞáá óÜöâíã

ùíá óÜÞöïöà ãíïøâ þïîî íÚõá âÜ Ûá óÚööáß Ûú âþÜ ✦áÜ✦îá ❅úÜÝ íÚõá óÚöÚàáß âÜ íïÞá âþÜ

ãâÝßáöâã øÞÜó Úö ✭ÝãâÞïÚö ùÜÝÞïãó Úöß ÷ÚöÚàáóáöâ ✬öãâïâÝâá øÜÞ âíïã ❊ÜÛ❆ý ùíáú þïîî öÜâ

ßÜ Úöú ÚßßïâïÜöÚî ãíïøâãü ÛÝâ íÚõá ÚàÞááß âÜ þÜÞñïöà áõáÞú ßÚú ßÝÞïöà âíÜãá âíÞáá óÜöâíã

øÜÞ Ú öáâ ãÚîÚÞú Üø ❉✹❋ ✯★★ü❃❃ ✦áÞ óÜöâíý

✸ÜÞ âíá áõáöïöà ãíïøâã úÜÝ þïîî öááß âíá øÜîîÜþïöà áó✦îÜúááã ✪

÷ÚöÚàáÞ ✷ øÞÜó ★✲ý★★ âïîî ★✮ý★★

❀ÚÞâáößáÞ ✷ øÞÜó ★✳ý★★ âïîî ✷✮ý★★

❀ÚÞâáößáÞ ✮ øÞÜó ★✲ý★★ âïîî ★✮ý★★

✹áÿÝÞïâú ✷ øÞÜó ★✲ý★★ âïîî ★✮ý★★

ôÚöÿáÞã ❅ÛáÚÝâïøÝî❆ ✮ øÞÜó ★✻ý★★ âïîî ★✮ý★★

✭ããÝó✦âïÜöã øÜÞ âíá þÜÞñïöà âïóá✶ãíïøâã ✦áÞ áó✦îÜúáá ✦áÞ óÜöâíã ✪

✽ááñã øÜÞ âíá ✱❃óÜöâíã ✦áÞïÜß ✷✱ þááñã

✽ÜÞñïöà âïóá ✦áÞ þááñ ✱✮ íÜÝÞã

✽ÜÞñïöà âïóá ✦áÞ ßÚú ✻ íÜÝÞã

ôÚúã Üøø ✦áÞ þááñ ✱ ßÚúã

✾ÚÿÚâïÜö öÜöá

ðÝÛîïÿ íÜîïßÚúã ßÝÞïöà âíá ✦áÞïÜß ✮ ßÚúã

✴✵✦áÿâáß ÚÛãáöÿá ßÝÞïöà ✦áÞïÜß ✱ ßÚúã

÷ÚöÚàáÞ Úöß ❀ÚÞâáößáÞã þïîî Ûá íïÞáß øÜÞ âíá ✱❃óÜöâí ✦áÞïÜßü ✹áÿÝÞïâú ãâÚøø Úöß ßÚöÿáÞã þïîî Ûá

íïÞáß Úöß ✦Úïß Üö Úö íÜÝÞîú ÛÚãïãý

ùíá ✦áÞóÚöáöâ ãâÚøø á✵✦áÿâã âíá øÜîîÜþïöà öáâ ✦Úúóáöâ ✪

÷ÚöÚàáÞ ✷ü✯★★ ❋ ✦áÞ óÜöâí

❀ÚÞâáößáÞ ✷ü★★★ ❋ ✦áÞ óÜöâí

ùíá íÜÝÞîú ✼✴ù ✦Úú âÜ âíá ßÚöÿáÞã Úöß ãáÿÝÞïâú ãâÚøø ïã ãÜóá ✧ ❉✹ ❋ý

✴ó✦îÜúááã ÿÜöâÞïÛÝâïÜö âÜþÚÞßã ãÜÿïÚî ãáÿÝÞïâú Úöß âÚ✵áã ïã ãÜóá ✱★ ✩ Üø ✼✴ù ✦Úúý

✴ó✦îÜúáÞã ÿÜöâÞïÛÝâïÜö âÜþÚÞßã ãÜÿïÚî ãáÿÝÞïâú Úöß âÚ✵áã ïã ãÜóá ✱★ ✩ Üø ✫ò✰✹✹ ✦Úúý

ðîáÚãá ÿÚîÿÝîÚâá âíá âÜâÚî ÿÜãâ Üø ãÚîÚÞïáã ● þÚàáã øÜÞ âíá ✱ óÜöâí ✦áÞïÜß ❅øÜÞ ãïó✦îïÿïâú ÞÜÝöß âíá

öÜý Üø áó✦îÜúááã ✦áÞ ✦ÜãïâïÜö âÜ âíá öáÚÞáãâ ✷✶✷ ÜÞ ✷✶✮ ❃ þíÚâáõáÞ Ú✦✦îïáã❆ý

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ÙÚÛÜÝÞ ÛÝßàáâã

äåæçèé ê☞

ùíá ✿✹Úîâú ÷ÚÿñáÞáî✿ ïã Ú øÚãâ❃øÜÜß øïãí ÜÝâîáâ ïö Ú õáÞú ÛÝãú ãíÜ✦✦ïöà ãâÞááâ ïö ÷ïÚóïý ❀ú Ýãïöà

âíá ßÚâÚ ÛáîÜþ ✦îáÚãá ÿÚîÿÝîÚâá âíá øÜîîÜþïöà ✪

Úý❆ ùíá þÜÞñïöà øÚÿâÜÞ

Ûý❆ ✼Þý Üø áó✦îÜúááã Üö ßÝâú ✦áÞ ãíïøâ ❅ÚööÝÚî ÚõáÞÚàá❆

ÿý❆ ✼Þ Üø áó✦îÜúááã Üö âíá ✦ÚúÞÜîî

✰✦áö ✷★ý★★ ❃✷✻ý★★ ✻ íÜÝÞã

✰✦áöïöà ßÚúã ✦áÞ þááñ ✧ ßÚúã

✰✦áöïöà ßÚúã ✦áÞ úáÚÞ ✱✲✳ ßÚúã

✭õáÞÚàá ÿÝãâÜóáÞã ✦áÞ ãíïøâ ✷ü✻★★ ÿÝãâÜóáÞã

ðÞÜßÝÿâïõïâú ✦áÞ áó✦îÜúáá ✱★★ ÿÝãâÜóáÞã ✦áÞ ãíïøâ

✽ÜÞñïöà ãïâÝÚâïÜö ✪

✽ÜÞñïöà íÜÝÞã ✦áÞ þááñ ✳★

✽ÜÞñïöà ßÚúã ✦áÞ þááñ ✯

✾ÚÿÚâïÜö þááñã ✻ ✦áÞ úáÚÞ

ðÝÛîïÿ íÜîïßÚúã ✳ ✦áÞ úáÚÞ

✭ããÝóáß ÚÛãáöÿá ❅ßÝá âÜ ïîîöáããýýý❆ ✷✷ ✦áÞ úáÚÞ

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ÙÚÛÜÝÞ ÛÝßàáâã

äåæçèé ê✌

Úý ðîáÚãá ÿÚîÿÝîÚâá âíá öÞý Üø þÚïâáÞã âÜ Ûá áó✦îÜúáß øÜÞ âíá ✿✹áÚãÜöã ✸ïöá ôïöá✿ ÞáãâÚÝÞÚöâ þíïÿí

ïã Ü✦áö øÜÞ ÛÝãïöáãã ✯✮ þááñã Ú úáÚÞý

ùíá ✿ÞÚþ✿ ßÚâÚ ÚõÚïîÚÛîá ïã ✪

✴✵✦áÿâáß ÿÜõáÞã✶ãíïøâ ✷✮★

✰✦áö ✷✲ ❃ ✮✳ý★★ ✻ ûÜÝÞã

ôÚúã ✦áÞ þááñ ✲

✷ ûáÚßþÚïâáÞ Úöß ✷ ✹ÜóóáîïáÞ þïîî Ûá ïö ÿíÚÞàá

ðÞÜßÝÿâïõïâú ✦áÞ þÚïâáÞ ✮★ ÿÜõáÞã

✽ÜÞñïöà ãïâÝÚâïÜö ✪ ûÜÝÞã ✦áÞ þááñ ✳★ ❅❍ ✻ ✦áÞ ßÚú❆

ûÜîïßÚú þááñã ✯

✰âíáÞ íÜîïßÚúãü ïîîöáããýýý ✱ þááñã

✽ÜÞñïöà øÚÿâÜÞ ✪ ✫ÞÜãã íÜÝÞã

ûÜîïßÚú

ÜâíáÞ

✽ÜÞñïöà íÜÝÞã ✦áÞ úáÚÞ

✽ÜÞñïöà ßÚúã ✦áÞ úáÚÞ

✹íïøâ ßÚúã

✽ÜÞñïöà øÚÿâÜÞ ✹íïøâ ÿÜõáÞÚàá ✦áÞ áó✦îý

ìÜõáÞã ✷✮★

✽ÚïâáÞã Üö ßÝâú

✽ÚïâáÞã Üö ✦ÚúÞÜîî

Ûý ❀ú íÜþ óÝÿí ßÜáã âíá ✦ÞÜßÝÿâïõïâú íÚõá âÜ àÞÜþ ïø âíá öÞý Üø þÜÞñïöà íÜÝÞã ✦áÞ þááñ ïã âÜ Ûá

ÞáßÝÿáß âÜ ✱✻ Úöß âíá öÞý Üø þÚïâáÞã Üö âíá ✦ÚúÞÜîî óÝãâ öÜâ ïöÿÞáÚãá ■

✴✵✦áÿâáß ÿÜõáÞã✶ãíïøâ ✷✮★

✰✦áö ✷✲ ❃ ✮✳ý★★ ✻ ûÜÝÞã

ôÚúã ✦áÞ þááñ ✲

✷ ûáÚßþÚïâáÞ Úöß ✷ ✹ÜóóáîïáÞ þïîî Ûá ïö ÿíÚÞàá

ðÞÜßÝÿâïõïâú ✦áÞ þÚïâáÞ ÿÜõáÞã

✽ÜÞñïöà ãïâÝÚâïÜö ✪ ûÜÝÞã ✦áÞ þááñ ✱✻

ûÜîïßÚú þááñã ✯

✰âíáÞ íÜîïßÚúãü ïîîöáããýýý ✱ þááñã

✽ÜÞñïöà øÚÿâÜÞ ✪ ✫ÞÜãã íÜÝÞã

ûÜîïßÚú

ÜâíáÞ

✽ÜÞñïöà íÜÝÞã ✦áÞ úáÚÞ

✽ÜÞñïöà ßÚúã ✦áÞ úáÚÞ

✹íïøâ ßÚúã

✽ÜÞñïöà øÚÿâÜÞ ✹íïøâ ÿÜõáÞÚàá ✦áÞ áó✦îý

ìÜõáÞã ✷✮★

✽ÚïâáÞã Üö ßÝâú

✽ÚïâáÞã Üö ✦ÚúÞÜîî

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ÙÚÛÜÝÞ ÛÝßàáâã

äåæçèé ê✌ ✍✎✏✑

✭ããÝóïöà âíá øÜîîÜþïöà âÝÞöÜõáÞ ßÚâÚ Úöß Ú ÿÜãâ Üø ✫❀ð ✮★★ ✦áÞ þÚïâáÞ ✦áÞ þááñ ❃ þíÚâ þÜÝîß Ûá

óÜÞá ✦ÞÜøïâÚÛîá ✪

Úý ìÜöâïöÝá Ü✦áÞÚâïöà Úã ÛáøÜÞá ÜÞ

Ûý ìîÜãïöà âíá Ü✦áÞÚâïÜö Üö óÜößÚú ❅âíáÞáøÜÞá Ú ✯ ßÚú þááñ❆

ôïÞáÿâ ÿÜãâã ❅øÜÜß Úöß ÛáõáÞÚàá ÿÜãâü Úöß ÜâíáÞ á✵✦áöãáã❆ ÚóÜÝöâ Ý✦ âÜ ✳★ ✩ Üø ÞáõáöÝáý

✰âíáÞ ãâÚøøã ✦ÚúÞÜîî ✦áÞ þááñ ïã ✫❀ð ✲ý★★★ øÜÞ õáÞãïÜö Úý Úöß ✫❀ð ✯ý✯★★ øÜÞ õáÞãïÜö Ûý

✫ÞÜãã ✦ÞÜøïâ ïã ßáøïöáß Úã âÜâÚî ÞáõáöÝá îáãã ßïÞáÿâ ÿÜãâã îáãã ✦ÚúÞÜîîý

Úý❆ ìÜõáÞã ✭õàý ìÜõáÞ ❏òáõáöÝá

òáõáöÝáã ✪ ÷ÜößÚú ✻★ ✮✯ ✮ü★★★

ùÝáãßÚú ✺★ ✮★ ✷ü✻★★

✽áßöáãßÚú ✷★✯ ✮★ ✮ü✷★★

ùíÝÞãßÚú ✷✳✯ ✮✯ ✱ü✲✮✯

✸ÞïßÚú ✷✯★ ✱✯ ✯ü✮✯★

✹ÚâÝÞßÚú ✷✯★ ✱★ ✳ü✯★★

❏ ✸ÜÜß Úöß ❀áõáÞÚàá

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ÙÚÛÜÝÞ ÛÝßàáâã

äåæçèé ê✒

✿ ôáá ôáá❇ã ßÚïîú ôáîï✿ ïã Ú ãóÚîîü ÛÝâ ÛÝãú ãíÜ✦ ÜøøáÞïöà âÚãâú ãÚößþïÿíáãý ôáá ôáá

✦ÞÜõïßáã âíá øÜîîÜþïöà ßÚâÚ✪

✰✦áöïöà âïóáã ✧ý★★ ❃ ✮✱ý★★ ❍ ✮ ãíïøâã ✦áÞ ßÚú ❅✻íÜÝÞã ✦ý ãíïøâ❆

✰✦áöïöà ßÚúã ✦áÞ þááñ ✧

✰✦áöïöà ßÚúã ✦áÞ úáÚÞ ✱✲✳

✭õáÞÚàá ÿÝãâÜóáÞã ✦áÞ ãíïøâ ✻★★

ðÞÜßÝÿâïõïâú ✦áÞ áó✦îÜúáá ✷✲★ ÿÝãâÜóáÞã ✦áÞ ãíïøâ

✽ÜÞñïöà ãïâÝÚâïÜö✪

✽ÜÞñ íÜÝÞã ✳★ ✦áÞ þááñ

✽ÜÞñ ßÚúã ✯ ✦áÞ þááñ

✾ÚÿÚâïÜö þááñã ✦áÞ áó✦îÜúáá ✯ ✦áÞ úáÚÞ

ðÝÛîïÿ íÜîïßÚúã ✯ ßÚúã ✦áÞ úáÚÞ

✭ããÝóáß ÜâíáÞ ÚÛãáöÿáã øÞÜó þÜÞñ ✷✮ ßÚúã ✦áÞ úáÚÞ

ðîáÚãá ÿÚîÿÝîÚâá✪

Úý ùíá þÜÞñïöà øÚÿâÜÞ

Ûý ✼Üý Üø áó✦îÜúááã ✦áÞ ãíïøâ

ÿý ✼Üý Üø áó✦îÜúááã Üö âíá ✦ÚúÞÜîî

äåæçèé ê✓

ùíá ✿❀áÚÿíãïßá ✹ÝößÜþö✿ ïã Ú ✯❏ ûÜâáî þïâí Ú ÿÚ✦Úÿïâú Üø ✮✯★ ÞÜÜóãý ùíá ✦Üîïÿïáã ●

✦ÞÜÿáßÝÞáã óÚöÝÚî ãíÜþã âíá øÜîîÜþïöà ✦ÞÜßÝÿâïõïâú ïößïÿÚâÜÞã ✪

ðÞÜßÝÿâïõïâú ïößïÿÚâÜÞã ✪

÷Úïßã ✪ ÚÞá âÜ ÿîáÚö ✷✯ ÜÿÿÝ✦ïáß ÞÜÜóã ✦áÞ ßÚú

✹Ý✦áÞõïãÜÞã ✪ ÚÞá Þáã✦ÜöãïÛîá øÜÞ ✯★ ÜÿÿÝ✦ïáß ÞÜÜóã ✦áÞ ßÚú

ùíá ûÜâáî ïã Ü✦áö ✱✲✳ ßÚúã Úöß ✦ÞÜßÝÿáã Úö ÚõáÞÚàá ÜÿÿÝ✦Úöÿú ✦ý✭ý Üø ✧✯ ✩ý

❅✸ÜÞ ïó✦îïÿïâú ✦îáÚãá ÿÚîÿÝîÚâá þïâí ✱✲✳ ßÚúã❆ý

✫áöáÞÚî ïöøÜÞóÚâïÜö ÚÛÜÝâ þÜÞñ ÿÜößïâïÜöã ✪

✯✮ þÜÞñïöà þááñã ïö âÜâÚî

✯ þÜÞñïöà ßÚúã ✦áÞ þááñ

✻ þÜÞñïöà íÜÝÞã ✦áÞ ßÚú

✯ þááñã õÚÿÚâïÜö

✺ ✦ÝÛîïÿ íÜîïßÚúã ïö ✦áÞïÜß

✧ á✵✦áÿâáß ßÚúã Üø ÚÛãáöÿá ✦áÞ áó✦îÜúáá ❅ßÝá âÜ ïîîöáããýýý❆

ðîáÚãá ÿÚîÿÝîÚâá ✪

âíá þÜÞñïöà øÚÿâÜÞ

âíá öÝóÛáÞ Üø óÚïßã Úöß øîÜÜÞ ãÝ✦áÞõïãÜÞã Þá❂ÝïÞáß Üö ÚõáÞÚàá ✦áÞ ßÚú

âíá öÝóÛáÞ Üø óÚïßã Úöß øîÜÜÞ ãÝ✦áÞõïãÜÞã Üö âíá ✦ÚúÞÜîî

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ÙÚÛÜÝÞ ÛÝßàáâã

äåæçèé ê✔

✭àÚïö âíá ✿✹áÚõïáþ✿ ÞáãâÚÝÞÚöâý ùÜöú þÚöâã óÜÞá ïöøÜÞóÚâïÜö Üö ãâÚøøïöà Úöß íÚã ✦Þá✦ÚÞáß

âíá øÜîîÜþïöà✪

ðÞÜßÝÿâïõïâú ïößïÿÚâÜÞã ✪

✹áÞõïÿá ✪ ✷ þÚïâáÞ ãáÞõáã ✮★ óáöÝ ÿÜõáÞã ✦áÞ ßÚú

❑ïâÿíáö ✪ ✷ ÿíáø ✦Þá✦ÚÞáã ✱★ óáöÝ ÿÜõáÞã ✦áÞ ßÚú

❅✦îáÚãá Ýãá âíá ÿÜõáÞ ïöøÜÞóÚâïÜö øÞÜó Ü✦áÞÚâïöà á✵áÞÿïãá öÜý ✷★❆

✫áöáÞÚî ïöøÜÞóÚâïÜö ÚÛÜÝâ þÜÞñ ÿÜößïâïÜöã ✪

✮✮ þÜÞñïöà þááñã ïö âÜâÚî

✯ þÜÞñïöà ßÚúã ✦áÞ þááñ

✻ þÜÞñïöà íÜÝÞã ✦áÞ ßÚú

✮ ✦ÝÛîïÿ íÜîïßÚúã ïö ✦áÞïÜß

✮ á✵✦áÿâáß ßÚúã Üø ÚÛãáöÿá ✦áÞ áó✦îÜúáá ❅ßÝá âÜ ïîîöáããýýý❆

ðîáÚãá ÿÚîÿÝîÚâá âíá þÜÞñïöà øÚÿâÜÞ Úöß âíá öÝóÛáÞ Üø ÿíáøã Úöß þÚïâáÞã Þá❂ÝïÞáß øÜÞ âíá

ãáÚãÜöý

ðîáÚãá ÞáøáÞ âÜ á✵Úó✦îá ✰✦áÞÚâïöà ✭✷★ øÜÞ Ü✦áÞÚâïÜöÚî ßÚâÚý

äåæçèé ê✕

ùíïã á✵Úó✦îá ÞáîÚâáã âÜ âíá ✿Ü✦áÞÚâïöà á✵Úó✦îá öÜý ✷✷✿

▲Üíö ïã öÜþ ïö âíá ✦ÞÜÿáãã Üø ãâÚøø ✦îÚööïöàý ùíá ✿✹ÚÞßïöá ✸ÚÿâÜÞú✿ ïã âíá ÞáãâÚÝÞÚöâ ÿîÜãá âÜ

âíá íÜâáîý ✸ÜÞ âíá ñïâÿíáö ÚÞáÚ íá íÚã ÚÿÿÝóÝîÚâáß âíá øÜîîÜþïöà ßÚâÚ✪

ðÞÜßÝÿâïõïâú✪

❃ ✭ íáÚß ÿíáø ïã öááßáß Úîî úáÚÞ ÞÜÝößü íïã ßÝâïáã ÚÞá ✦îÚööïöà ÜÞàÚöïãÚâïÜö Úöß ÿÜöâÞÜîý

❃ ✰öá ÿíáø ÿÚö óÚöÚàá âÜ ✦Þá✦ÚÞá øÜÜß øÜÞ ✱★ ÿÜõáÞã Ú ßÚú

❃ ✰öá ñïâÿíáö ãâáþÚÞß ÿÚö íÚößîá Úîî âíá ÿîáÚöïöà ßÝâïáã Üø Üöá Ü✦áÞÚâïöà ßÚú

✭ÿÿÜÞßïöà âÜ íïãâÜÞïÿÚî ßÚâÚ ▲Üíö ÿÜöÿîÝßáã ãÜóá ✷✯★ ÿÜõáÞã Ú ßÚú Üö ÚõáÞÚàá ÚÞá øáÚãÚÛîáý

ùíá ÞáãâÚÝÞÚöâ ïã Ü✦áö øÞÜó ✳ý★★ ✦ó âïîî óïßöïàíâ ÷ÜößÚú âïîî ✹ÚâÝÞßÚúý ✹ÝößÚú ÿîÜãáßý ✸ÜÞ

ãïó✦îïÿïâú ÚããÝóá Ú ✱✲✳❃ßÚú úáÚÞ

✫áöáÞÚî ïöøÜÞóÚâïÜö✪

✽ááñîú þÜÞñïöà âïóá ✳★ íÜÝÞã

✻ íÜÝÞã ✦áÞ ßÚú

✭ööÝÚî õÚÿÚâïÜö ✯ þááñã

✷★ ðÝÛîïÿ íÜîïßÚúã

✷✮ ßÚúã ÜâíáÞ ÚÛãáöÿáã ❅ïîîöáããüýýý❆

ðîáÚãá ✦Þá✦ÚÞá âíá øÜîîÜþïöà✪ ❅✱★❆

Úý ✴ó✦îÜúááã Üö ßÝâú

Ûý ✽ÜÞñïöà øÚÿâÜÞ

ÿý ✴ó✦îÜúááã Üö âíá ✦ÚúÞÜîî

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✁ � ✂ ✄ ☎ ✆ ✝ ✞ ✟ ✠ ✖ ✝ ✖ ✄ ✗ ✘ ✙ ✚ ✘ ✛Sample exercise investment appraisal:

A machne is bought and the company controller provides the following information:

Initial cash flow Investment cost 53,000 Required:

a. Payback in years and months and in years and days

Periodic cash flows Cash flows: year 1 15,000 b. discounted payback

" year 2 17,000 c. NPV

" year 3 18,000 d. IRR

" year 4 14,000

" year 5 11,000

Terminal cash flow Resale value at end of year 5 1,000

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✜✢✣✤✥✢▼ ◆❖P◗❘✥✤❙◗

❚❯❱❲❳❯❨ ❩❬

❭✢❪✤❙◗ ❫❖❴✥ ◆❘❘❙ ✢◆▼❘ ✥❵ ❴✢❪❘ ✢❙ ✢❛❵❖❙✥ ❵❜ ❝❞❡❢❢❢❡❢❢❢❣❤❤✐❵❖ ❴❘❘ ✥❥❘ ❜❵▼▼❵❦✤❙◗ ✢P❪❘❧✥✤❴❘❛❘❙✥✤❙ ✢ ▼❵♠✢▼ ❙❘❦❴✣✢✣❘❧ ♥

♦❵❦ ❵❧ ❙❘❪❘❧❣ ♣❖▼▼✐ ❘q❖✤✣✣❘P r✢❧ ✥❵ ▼❘✥ ✤❙ P❵❦❙✥❵❦❙ s✤❘❙❙✢❣t❵❙✥❥▼✐ ❧❘❙✥ ❝ ✉❡✈❢❢❣❤❤❣ ✇✤❙◗▼❘ ✣❧✤❙♠✤✣✢▼ ✣✢✐❛❘❙✥ ◆✐✥❘❙✢❙✥ ❝ ❞❛❣ ✜✢▼▼ ❢①①① ② ✈❢ ❞❢✈ ❤ ❢

③❵❖ ✥✢④❘ ✐❵❖❧ ♠❥✢❙♠❘ ✢❙P ❛❘❘✥ ✥❥❘ ♠❖❧❧❘❙✥ ❵❦❙❘❧ ✥❵ ✤❙❴✣❘♠✥ ✥❥❘ ✣▼✢♠❘❣ ⑤❥❘ ◆✢❧ ❴❘❘❛❴ ✥❵ ◆❘ ✤❙❪❘❧✐ ◗❵❵P ♠❵❙P✤✥✤❵❙❡ ✥❥❘ ▼❵♠✢✥✤❵❙ ✤❴ ❧❘✢▼▼✐ ❘⑥♠❘▼▼❘❙✥❡ ✢❙P ✥❥❘ ❵❦❙❘❧ ◗✤❪❘❴ ✢ ❪❘❧✐ ◗❵❵P ❧❘✢❴❵❙ ❦❥✐❥❘ ❦✢❙✥❴ ✥❵ ▼❘✥ ✥❥❘ ◆✢❧ ❙❵❦❣ ♣❖❧✥❥❘❧❛❵❧❘ ❥❘ ✣❧❵❪✤P❘❴ ✐❵❖ ❦✤✥❥ ✥❥❘ ✢❖P✤✥❘P ❴✥✢✥❘❛❘❙✥❴ ❵❜ ✥❥❘ ▼✢❴✥✥❥❧❘❘ ✐❘✢❧❴❣

⑤❥❘ ✢❙❙❖✢▼ ④❘✐ ❜✤◗❖❧❘❴ ✢❧❘ ✢❴ ❜❵▼▼❵❦❴ ♥

⑦✢❴✥ ✐❘✢❧ ③❘✢❧ ◆❘❜❵❧❘⑧❘❪❘❙❖❘ ❞❡❞❢❢❡❢❢❢ ❞❡❢✈❢❡❢❢❢⑨⑩❶ ❷◆❘❜❵❧❘ ❧❘❙✥✢▼ ❘⑥✣❘❙❴❘❸ ❹❹❢❡❢❢❢ ❹❢❺❡✈❢❢✜❵❙✥❧✤◆❖✥✤❵❙ t✢❧◗✤❙ ⑧✢✥✤❵ ❹❢❻ ✉❺❻

⑤❥❘ ▼❵❙◗ ❧❖❙ ✥❧❘❙P ❴❥❵❦❴ ✥❥✢✥ ✥❥❘ ❧❘❪❘❙❖❘ ♠✢❛❘ ✢▼❵❙◗ ❦✤✥❥ ✥❥❘ ❧✢✥❘ ❵❜ ✤❙❜▼✢✥✤❵❙ ❷❦❥✤♠❥ ✤❴ ❘⑥✣❘♠✥❘P✥❵ ❴✥✢◆✤▼✤❴❘ ✢✥ ✉ ❻ ❜❵❧ ✥❥❘ ❖✣♠❵❛✤❙◗ ✐❘✢❧❴❸ ✢❙P ✥❥✢✥ ✢ ♠❵❙✥❧✤◆❖✥✤❵❙ ❛✢❧◗✤❙ ❧✢✥✤❵ ❵❜ ❹❢ ❻ ❴❘❘❛❴❜❘✢❴✤◆▼❘❣❼❜✥❘❧ ❜❖❧✥❥❘❧ P✤❴♠❖❴❴✤❵❙❴ ✥❥❘ ❵❦❙❘❧ ❥✢❴ ✢◗❧❘❘P ✥❵ ❜✤⑥ ✥❥❘ ❧❘❙✥ ❜❵❧ ✢ ✈❤✐❘✢❧ ✣❘❧✤❵P❣

❽❘✣❧❘♠✤✢✥✤❵❙ ✤❴ ✥❵ ◆❘ ✥✢④❘❙ ❵❪❘❧ ✈ ✐❘✢❧❴❣

❾❙♠❵❛❘ ✥✢⑥ ✤❴ ❹❢ ❻ ❷✣✢✤P ✤❙ ✥❥❘ ❜❵▼▼❵❦✤❙◗ ✐❘✢❧❸

❶▼❘✢❴❘ ♠✢▼♠❖▼✢✥❘ ✥❥❘ ✣❧❵❫❘♠✥ ♠✢❴❥❜▼❵❦ ❜❵❧ ✢ ✈❤✐❘✢❧ ✣❘❧✤❵P❡ ✥❥❘ ✣✢✐◆✢♠④ ✣❘❧✤❵P ✤❙ ✐❘✢❧❴ ✢❙P ✥❥❘♦❶s ◆✐ ✢❴❴❖❛✤❙◗ ✢ P✤❴♠❵❖❙✥ ❧✢✥❘ ❵❜ ❿ ❻❷❽❵❙➀✥ ❜❵❧◗❘✥ ✥❵ ♠❵❙❴✤P❘❧ ✥❥❘ ✢❙❙❖✢▼ ◗❧❵❦✥❥ ❵❜ ❧❘❪❘❙❖❘❴❸❣

❚❯❱❲❳❯❨ ❩➁

r✤▼▼✐ ⑨✢P❘❴ ✤❴ ✥❥❘ ➂❽❶ ❴❖✣❘❧❪✤❴❵❧ ❜❵❧ ✥❥❘ ➃➂✥❘❙ ❖✤✥ P❘ ❛❖❖❧➃ ✤❙ ❼❛❴✥❘❧P✢❛❣ ⑤❥✤❴ ❜✢❴✥ ❜❵❵P ❵❖✥▼❘✥✤❴ ◆✢❴❘P ❵❙ ✣❧❵❪✤P✤❙◗ ❥❵✥ ❴❙✢♠④❴ ❪✤✢ ❪❘❙P✤❙◗ ❛✢♠❥✤❙❘❴❣ r✤▼▼✐ ❦✢❙✥❴ ✥❵ ✤❙✥❧❵P❖♠❘ ✢ ❙❘❦ ❛✢♠❥✤❙❘❦❥✤♠❥ ✣❧❵P❖♠❘❴ ❪❘◗❘✥✢❧✤✢❙ ➃r✤✥✥❘❧◆✢▼▼❘❙➃ ❷✢ ❽❖✥♠❥ P❘▼✤♠✢♠✐❸❣❭❘ ❥✢❴ ♠✢▼♠❖▼✢✥❘P ✢ ✣❧❵❫❘♠✥ ♠✢❴❥ ❜▼❵❦ ✢❴ ❜❵▼▼❵❦❴ ♥

③❘✢❧ ❞ ❞✈❡❢❢❢ ❝③❘✢❧ ① ❞➄❡❢❢❢ ❝③❘✢❧ ✉ ❞❿❡❢❢❢ ❝③❘✢❧ ❹ ❞❹❡❢❢❢ ❝③❘✢❧ ✈ ❞❞❡❢❢❢ ❝

❾❙❪❘❴✥❛❘❙✥ ♠❵❴✥ ✈❢❡❢❢❢ ❝

❼❴❴❖❛✤❙◗ ✢ ❛✤❙✤❛❖❛ ❧❘q❖✤❧❘❛❘❙✥ ❜❵❧ ✥❥❘ ❧❘✥❖❧❙ ❵❙ ✤❙❪❘❴✥❛❘❙✥ ❧✢✥❘ ❵❜ ❞✈ ❻ ❜❵❧ ✥❥❘ ❵✣❘❧✢✥✤❵❙✣▼❘✢❴❘ ♠✢▼♠❖▼✢✥❘ ✥❥❘ ❾⑧⑧ ❷◆✐ ❖❴✤❙◗ ❞① ❻❡ ❞❹ ❡ ❞➅ ❻❡ ❞❿ ❻ ❤ ❦❥✤♠❥❘❪❘❧ ♠❵❛❘❴ ♠▼❵❴❘❴✥❸ ✥❵P❘✥❘❧❛✤❙❘ ✤❜ ✥❥❘ ✣❧❵❫❘♠✥ ❴❥❵❖▼P ◆❘ ✢♠♠❘✣✥❘P ❵❧ ❙❵✥❣

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✜✢✣✤✥✢▼ ◆❖P◗❘✥✤❙◗

❚❯❱❲❳❯❨ ❩➆

❽✢❪❘ ➃⑤❥❘ ❦❥✤✥❘ ❥❖❙✥❘❧➃ ❽❵❧❜ ✤❴ ♠❵❙✥❘❛✣▼✢✥✤❙◗ ✣❖❧♠❥✢❴✤❙◗ ✥❦❵ ❴❵❙✤♠ P❘✣✥❥ ❜✤❙P❘❧❴ ✥❵ ❘q❖✤✣ ✥❥❘❜✤❴❥✤❙◗ ◆❵✢✥❴ ❵❜ ✥❥❘ ✇❘❛❛❘❧✤❙◗ ❦✤▼P▼✤❜❘ ✣✢❧④ ❜❵❧ ✢ ✥❵✥✢▼ ❵❜ ❞❣✈❝❣ ❭❘ ❥✢❴ P❘✥❘❧❛✤❙❘P ✥❥✢✥ ✤✥❦❵❖▼P ✤❙♠❧❘✢❴❘ ❧❘❪❘❙❖❘❴ ◆✐ ❝ ✈❢❢❡❢❢❢ ✣❘❧ ✐❘✢❧ ◆❘♠✢❖❴❘ ❵❜ ✤✥❴ ❵❧✤◗✤❙✢▼✤✥✐❡ ◆❖✥ ✤✥ ❦❵❖▼P♠❵❴✥ ❺❢❡❢❢❢ ✢ ✐❘✢❧ ✥❵ ❵✣❘❧✢✥❘❣❼❴❴❖❛❘ ✢❙ ❿❻ P✤❴♠❵❖❙✥ ❧✢✥❘ ✢❙P ✢ ✈ ✐❘✢❧ ▼✤❜❘ ❜❵❧ ✥❥❘ ❘q❖✤✣❛❘❙✥❣❶▼❘✢❴❘ ❖❴❘ ✥❥❘ ♦❶s ❛❵P❘▼ ✥❵ P❘✥❘❧❛✤❙❘ ✤❜ ✥❥❘ ❘q❖✤✣❛❘❙✥ ❴❥❵❖▼P ◆❘ ✣❖❧♠❥✢❴❘P❣

❚❯❱❲❳❯❨ ❩➇

➈✢♠▼✐❙ ✇✥❘❦✢❧✥ ✤❴ ✥❥❘ ✣❧❵✣❧✤❘✥❧❘❴❴ ❵❜ ✥❥❘ ➃r❵⑥ ✇✥❵✣➃ ❶❖◆ ✤❙r❧✢❙P❴ ❭✢✥♠❥❣ ✇❥❘ ✤❙✥❘❙P❴ ✥❵ ✣❖❧♠❥✢❴❘✢ t✤❙✤❪✢❙ ✥❵ ❵◆✥✢✤❙ ✢▼▼ ❙❘❘P❘P ❜❧❘❴❥ ◗❵❵P❴ P✤❧❘♠✥▼✐ ❜❧❵❛ ✥❥❘ ❛✢❧④❘✥❣ ✇❥❘ ❧❘♠④❵❙❴ ✥❥✢✥ ❴❥❘ ♠✢❙❴✢❪❘ ✢❙ ✢❛❵❖❙✥ ❵❜ ➅❡❢❢❢ ➉ ✣❣❼❣ ⑩✣❘❧✢✥✤❙◗ ♠❵❴✥❴ ❵❜ ✥❥❘ ❪✢❙ ✢❧❘ ❘❴✥✤❛✢✥❘P ✥❵ ◆❘ ✉❡❢❢❢ ➉ ✣❣❼❣⑤❥❘ ❪✢❙ ❦✤▼▼ ♠❵❴✥ ❞❞❡❢❢❢ ➉ ✢❙P ❥✢❪❘ ✢ ❧❘❴✢▼❘ ❪✢▼❖❘ ❵❜ ✉❡❢❢❢ ➉ ✤❙ ✥❥❘ ❜✤❜✥❥ ✐❘✢❧❣❶▼❘✢❴❘ ❥❘▼✣ ➈✢♠④✤❘ ✥❵ P❘♠✤P❘ ◆✐ ♠✢▼♠❖▼✢✥✤❙◗ ✥❥❘ ♦❶s ❵❜ ✥❥✤❴ ✣❧❵❫❘♠✥ ❵❪❘❧ ✢ ❜✤❪❘ ✐❘✢❧ ✥✤❛❘ ✣❘❧✤❵P✢❙P ◆✐ ✢✣✣▼✐✤❙◗ ✢ ❞① ❻ P✤❴♠❵❖❙✥ ❧✢✥❘❣ ➊❴❘ ✥❥❘ ✥✢◆▼❘ ❵❜ ✣❧❘❴❘❙✥ ❪✢▼❖❘ ❜✢♠✥❵❧❴ ✢❴ ✢❴❴✤❴✥✢❙♠❘❣

❚❯❱❲❳❯❨ ❩➋

❽❘❘ ❽❘❘ ✢▼❴❵ ♠❵❙✥❘❛✣▼✢✥❘❴ ✥❵ ✢PP ✣❧❘✥➌❘▼❴ ✥❵ ❥❘❧ ❴❘▼❘♠✥✤❵❙❣ ✇❥❘ ❦❵❖▼P ❥✢❪❘ ✥❵ ✣❖❧♠❥✢❴❘❙❘❦ ❘q❖✤✣❛❘❙✥ ✥❥✢✥ ❦✤▼▼ ♠❵❴✥ ➍ ❞✈❡❢❢❢❣ ❾✥ ❥✢❴ ✢❙ ❘❴✥✤❛✢✥❘P ❜✤❪❘ ✐❘✢❧ ▼✤❜❘ ✢❙P ❽❘❘ ❽❘❘❥✢❴ P❘✥❘❧❛✤❙❘P ✥❥✢✥ ❴❥❘ ♠❵❖▼P ❴❘▼▼ ✢✣✣❧❵⑥✤❛✢✥❘▼✐ ➍ ❹❢❡❢❢❢ ❦❵❧✥❥ ❵❜ ✣❧❘✥➌❘▼❴ ❘✢♠❥ ✐❘✢❧ ❦✤✥❥✢ ❜❵❵P ♠❵❴✥ ❵❜ ✉✈❻❡ ▼✢◆❵❖❧ ♠❵❴✥ ❵❜ ❹❢❻ ✢❙P ❵✥❥❘❧ ♠❵❴✥❴ ❵❜ ❞❢❻❣ ⑤❥❘ ❘q❖✤✣❛❘❙✥ ❦✤▼▼ ❙❵✥ ❥✢❪❘✢❙✐ ❧❘❴✢▼❘ ❪✢▼❖❘ ✢❜✥❘❧ ✤✥❴ ❜✤❪❘ ✐❘✢❧ ▼✤❜❘❣

❼❴❴❖❛❘ ✢ P✤❴♠❵❖❙✥ ❧✢✥❘ ❵❜ ❞① ❻ ✥❵ ♠✢▼♠❖▼✢✥❘ ✥❥❘ ♦❶s❣❷❖❴❘ ✥❥❘ ✢✥✥✢♠❥❘P ✥✢◆▼❘ ❵❜ ✣❧❘❴❘❙✥ ❪✢▼❖❘ ❜✢♠✥❵❧❴❸

❚❯❱❲❳❯❨ ❩➎

✇❘❧❘❙✢ ➏✢✥✥❴ ✤❴ ♠❵❙❴✤P❘❧✤❙◗ ✥❥❘ ✣❖❧♠❥✢❴❘ ❵❜ ✢❙ ✤♠❘❤♠❧❘✢❛ ❛✢♠❥✤❙❘ ❜❵❧ ✥❥❘ ❧❘❴✥✢❖❧✢❙✥❵✣❘❧✢✥✤❵❙❣

⑤❥❘ ❛✢♠❥✤❙❘ ❦✤▼▼ ♠❵❴✥ ❞❿❡❢❢❢ ➉ ✢❙P ❥✢❴ ✢❙ ❘⑥✣❘♠✥❘P ▼✤❜❘ ❵❜ ✈❤✐❘✢❧❴❣ ⑤❥❘ ❧❘❴✢▼❘ ❪✢▼❖❘ ✢❜✥❘❧✈ ✐❘✢❧❴ ✤❴ ❘❴✥✤❛✢✥❘P ✥❵ ◆❘ ❞❡❢❢❢ ➉❣

✇❘❧❘❙✢ ❥✢❴ ♠✢▼♠❖▼✢✥❘P ✥❥❘ ♠✢❴❥❜▼❵❦ ❜❧❵❛ ✥❥❘ ✣❧❵❫❘♠✥ ✢❴ ❜❵▼▼❵❦❴ ♥

③❘✢❧ ❞ ❹❡❢❢❢ ➉③❘✢❧ ① ❹❡❢❢❢ ➉③❘✢❧ ✉ ✈❡❢❢❢ ➉③❘✢❧ ❹ ✈❡❢❢❢ ➉③❘✢❧ ✈ ①❡❢❢❢ ➉

❶▼❘✢❴❘ ♠✢▼♠❖▼✢✥❘ ✥❥❘ ❜❵▼▼❵❦✤❙◗♥

✢❣❸ ❶✢✐◆✢♠④ ✣❘❧✤❵P ✤❙ ✐❘✢❧❴

◆❣❸ ⑤❥❘ ❙❘✥ ✣❧❘❴❘❙✥ ❪✢▼❖❘ ❵❜ ✥❥❘ ✣❧❵❫❘♠✥ ◆✐ ✢✣✣▼✐✤❙◗ ✢ ❞①❻ P✤❴♠❵❖❙✥ ❧✢✥❘❣ ③❵❖ ♠✢❙ ❷✢❙P ❴❥❵❖▼P❸❖❴❘ ✥❥❘ ✢✥✥✢♠❥❘P ✥✢◆▼❘ ❵❜ ✣❧❘❴❘❙✥ ❪✢▼❖❘ ❜✢♠✥❵❧❴ ❜❵❧ ❵❧✤❘❙✥✢✥✤❵❙❣

♠❣❸ ❼P❪✤❴❘ ✤❜ ✥❥❘ ♦❶s ✤❙P✤♠✢✥❘❴ ✥❥✢✥ ✥❥❘ ✣❧❵❫❘♠✥ ❴❥❵❖▼P ◆❘ ✢♠♠❘✣✥❘P❣

P❣ ✜✢▼♠❖▼✢✥❘ ✥❥❘ ❾⑧⑧

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✜✢✣✤✥✢▼ ◆❖P◗❘✥✤❙◗

❚❯❱❲❳❯❨ ❩➐

➈❵❥❙ ❶❖④❘❘❡ ❭❘✢P♠❥❘❜ ❵❜ ❶❖④❘❘➀❴ ❶✢▼✢♠❘ ✢ ❜✤❙❘ P✤❙✤❙◗ ❧❘❴✥✢❖❧✢❙✥ ✤❙ P❵❦❙✥❵❦❙ ✜❥✤♠✢◗❵ ✤❴ ❜✢♠✤❙◗✢ P✤❜❜✤♠❖▼✥ P❘♠✤❴✤❵❙❣ ❭❘ ❥✢❴ ✥❵ ❧❘✣▼✢♠❘ ✥❥❘ ❘▼❘♠✥❧❵❙✤♠ ♠✢❴❥ ❧❘◗✤❴✥❘❧ ❜❵❧ ✥❥❘ ❧❘❴✥✢❖❧✢❙✥❣➈❵❥❙ ❥✢❴ ❧❘♠❘✤❪❘P ✥❥❘ ❜❵▼▼❵❦✤❙◗ ❵❜❜❘❧❴♥

✇✐❴✥❘❛ ❼ ✇✐❴✥❘❛ r❭✢❧P❦✢❧❘ ♠❵❴✥ ❞❹❡❿❢❢ ✉❢❡❢❢❢✇❵❜✥❦✢❧❘ ♠❵❴✥ ❞①❡❢❢❢ ✤❙♠▼❣ ✢◆❵❪❘t✢✤❙✥❘❙✢❙♠❘ ❵❜ ❥✢❧P❦✢❧❘ ✣❣✢❣ ❞❡❿❢❢ ①❡❢❢❢✇❵❜✥❦✢❧❘ ❖✣P✢✥❘❴ ✣❣✢❣ ❞❡✈❢❢ ✤❙♠▼❣ ✢◆❵❪❘❾❙❴❖❧✢❙♠❘ ❷❥✢❧P❦✢❧❘❸ ✣❣✢❣ ➅❢❢ ➅✈❢✇❖✣✣▼✤❘❴ ✣❣✢❣ ❞❡❿❢❢ ❞❡①❢❢➂❴✥✤❛✢✥❘P ▼✤❜❘ ❵❜♥

❭✢❧P❦✢❧❘ ✉ ✐❘✢❧❴ ➅ ✐❘✢❧❴✇❵❜✥❦✢❧❘ ❤❤❤ ➑ ➅ ✐❘✢❧❴

➑ ✉ ✐❘✢❧❴ ❜❵❧ P❘✣❧❘♠✤✢✥✤❵❙ ✣❖❧✣❵❴❘❴❣

♣❖❧✥❥❘❧ ✤❙❜❵❧❛✢✥✤❵❙♥❤ ⑤❥❘ ❴✐❴✥❘❛❴ ❵❜❜❘❧❘P ✢❧❘ ♠❵❙❴✤P❘❧❘P ✥❵ P❵ ✥❥❘✤❧ ❫❵◆ ❘q❖✢▼▼✐ ❦❘▼▼❣❤ ➈❵❥❙ ✤❴ ❖❴✤❙◗ ❴✥❧✢✤◗❥✥ ▼✤❙❘ P❘✣❧❘♠✤✢✥✤❵❙ ❜❵❧ ✢♠♠❵❖❙✥✤❙◗ ✣❖❧✣❵❴❘❴❣❤ ⑤❥❘ ❘❴✥✤❛✢✥❘P ❧❘❴✢▼❘ ❪✢▼❖❘ ❜❵❧ ❴✐❴✥❘❛ r ✤❴ ❘q❖✢▼ ✥❵ ✥❥❘ ❧❘▼❘❪✢❙✥ ❙❘✥ ◆❵❵④ ❪✢▼❖❘ ❵❜ ✥❥❘ ✐❘✢❧

✢❴❴❖❛✤❙◗ ✥❥❘ ❧❘P❖♠✤❙◗ ◆✢▼✢❙♠❘ ❛❘✥❥❵P ❵❜ P❘✣❧❘♠✤✢✥✤❵❙ ♠✢▼♠❖▼✢✥✤❵❙ ❷✢✥ ✈❢❻ ✢❙❙❖✢▼▼✐❸ ✤❴ ❖❴❘P❣❤ ⑤❥❘ ❶❖④❘❘➀❴ ❶✢▼✢♠❘ ✥✢⑥ ❧✢✥❘ ✤❴ ✉❢❻❣❤ ✇✐❴✥❘❛ ❼➀❴ ❥✢❧P❦✢❧❘ ♠❵❖▼P ◆❘ ❧❘✣▼✢♠❘P ❦✤✥❥ ✢ ❴✐❴✥❘❛ ❜❧❵❛ ✥❥❘ ❴✢❛❘ ❴❖✣✣▼✤❘❧ ✢❜✥❘❧ ✉ ✐❘✢❧❴❣

⑤❥❘ ❴❵❜✥❦✢❧❘ ❦❵❖▼P ❙❵✥ ♠❥✢❙◗❘❣ ♣❵❧ ❴✤❛✣▼✤♠✤✥✐ ✢❴❴❖❛❘ ✥❥❘ ♠❵❴✥ ❜❵❧ ❛✢✤❙✥❘❙✢❙♠❘ ✢❙P ✢▼▼ ❵✥❥❘❧❵✣❘❧✢✥✤❙◗ ♠❵❴✥❴ ❦❵❖▼P ❙❵✥ ♠❥✢❙◗❘❣⑤❥❘ ❙❘❦ ✣❧✤♠❘ ❜❵❧ ✥❥❘ ❥✢❧P❦✢❧❘ ✤❴ ❘❴✥✤❛✢✥❘P ✥❵ ◆❘ ❞❢❻ ◗❧❘✢✥❘❧ ✥❥✢❙ ✥❵P✢✐➀❴ ✣❖❧♠❥✢❴❘ ✣❧✤♠❘❣♦❵ ❧❘✣▼✢♠❘P ❥✢❧P❦✢❧❘ ❦❵❖▼P ❙❵✥ ❥✢❪❘ ✢❙✐ ❧❘❴✢▼❘ ❪✢▼❖❘

❤ ❼✣✣▼✐ ✢ P✤❴♠❵❖❙✥ ❧✢✥❘ ❵❜ ❞①❻ ❜❵❧ ✥❥❘ ♦❶s ♠✢▼♠❖▼✢✥✤❵❙❣❤ ❼❴❴❖❛❘ ✥✢⑥ ✤❴ ✣✢✤P ✤❙ ✥❥❘ ❴✢❛❘ ✐❘✢❧ ✢❴ ❘⑥✣❘❙❴❘P❣

➊❴❘ ✥❥❘ ♦❶s ❛❵P❘▼ ✥❵ P❘✥❘❧❛✤❙❘ ❦❥✤♠❥ ❴✐❴✥❘❛ ❴❥❵❖▼P ◆❘ ✣❖❧♠❥✢❴❘P ❖❙P❘❧ ✥❥❘ ❜❵▼▼❵❦✤❙◗✢❴❴❖❛✣✥✤❵❙❴♥

❤ ⑤❥❘ ▼✤❜❘ ❵❜ ❴✐❴✥❘❛ r ✤❴ ❴❥❵❧✥❘❙❘P ✥❵ ✉ ✐❘✢❧❴ ◆✐ ✢❴❴❖❛✤❙◗ ✢ ❧❘❴✢▼❘ ❪✢▼❖❘ ❷❛❘✥❥❵P ❼❸❤ ❼ ❴❘♠❵❙P ❴✐❴✥❘❛ ❼ ✤❴ ◆❵❖◗❥✥ ❷❛❘✥❥❵P r❸

✇❥❵❦ ✢▼▼ ✐❵❖❧ ❦❵❧④

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✜✢✣✤✥✢▼ ◆❖P◗❘✥✤❙◗

❚❯❱❲❳❯❨ ❩➒

r✤▼▼ t❖❧❧✢✐❡ ❵❦❙❘❧ ❵❜ ✥❥❘ ➃⑧❖❴✥✐ ♦✢✤▼➃ ❦✢❙✥ ✥❵ ✤❙✥❧❵P❖♠❘ ◆✤▼▼✤✢❧P ✥❵ ❥✤❴ ❘❴✥✢◆▼✤❴❥❛❘❙✥❣ ❭❘ ❥✢❴♠✢▼♠❖▼✢✥❘P ✥❥❘ ✢❙❙❖✢▼ ♠✢❴❥❜▼❵❦ ✥❵ ◆❘ ✢❴ ❜❵▼▼❵❦❴♥

③❘✢❧ ❞ ➅❡➅❢❢ ➍➃ ① ➄❡❢❢❢ ➍➃ ✉ ❿❡❢❢❢ ➍➃ ❹ ➄❡❺❢❢ ➍➃ ✈ ➅❡①❢❢ ➍

⑤❥❘ ✥✢◆▼❘❴ ✢❙P ❵✥❥❘❧ ❘q❖✤✣❛❘❙✥ ❦✤▼▼ ❧❘q❖✤❧❘ ❥✤❛ ✥❵ ✤❙❪❘❴✥ ➍ ✉❞❡❢❢❢r✤▼▼ ❘❴✥✤❛✢✥❘❴ ✥❥✢✥ ✢❜✥❘❧ ✈ ✐❘✢❧❴ ✥❥❘ ❘q❖✤✣❛❘❙✥ ♠✢❙ ◆❘ ❴❵▼P ❜❵❧ ➍ ✈❡❢❢❢

❶▼❘✢❴❘ ✢❴❴✤❴✥ r✤▼▼ ✤❙♥✢❣ ♠✢▼♠❖▼✢✥✤❙◗ ✥❥❘ ♦❶s ◆✐ ✢✣✣▼✐✤❙◗ ✢ ❞①❻ P✤❴♠❵❖❙✥ ❧✢✥❘❣◆❣ ❜✤❙P✤❙◗ ✥❥❘ ❾⑧⑧❣♠❣ ✥❥❘ ✣✢✐◆✢♠④P❣ ✥❥❘ P✤❴♠❵❖❙✥❘P ✣✢✐◆✢♠④ ✢✥ ❿❻

❚❯❱❲❳❯❨ ❩➓

⑤❥✤❴ ❘⑥✢❛✣▼❘ ❧❘▼✢✥❘❴ ✥❵ ✥❥❘ ➃❵✣❘❧✢✥✤❙◗ ❘⑥✢❛✣▼❘ ❙❵❣ ❞❞➃

➈❵❥❙ ✤❴ ❙❵❦ ♠❵❙✥❘❛✣▼✢✥✤❙◗ ✥❵ ◆❖✤▼P ✢ ✥❘❧❧✢♠❘ ✥❵ ✤❙♠❧❘✢❴❘ ✥❥❘ ❴❘❧❪✤♠❘ ❴✣✢♠❘ P❖❧✤❙◗ ✥❥❘ ❴❖❛❛❘❧❛❵❙✥❥❴❣ ❭❘ ◆❘▼✤❘❪❘❴ ❥❘ ♠✢❙ ❛✢④❘ ✢ P✢✤▼✐ ❴✢▼❘❴ ❵❜ ➍❞❡✈❢❢ ❜❵❧ ✢ ✣❘❧✤❵P ❵❜ ❞❢❢ P✢✐❴ ✣❘❧ ✐❘✢❧❣⑤❥❘ ❧❘▼❘❪✢❙✥ ❵✣❘❧✢✥✤❙◗ ♠❵❴✥❴ ✣❘❧ ❷❜❵❵P ♠❵❴✥❡ ▼✢◆❵❖❧❡ ❣❣❣❸ P✢✐ ❦❵❖▼P ✢❛❵❖❙✥ ✥❵ ➍ ❿❢❢ ✢ P✢✐❣⑤❥❘ ✤❙♠❵❛❘ ✥✢⑥ ❧✢✥❘ ✤❴ ❹❢❻ ✢❙P ✥✢⑥ ✤❴ ✣✢✐✢◆▼❘ ✤❙ ✥❥❘ ❴✢❛❘ ✐❘✢❧ ✢❴ ✤✥ ✤❴ ❘⑥✣❘❙❴❘P❣

⑤❥❘ ✤❙❪❘❴✥❛❘❙✥ ❥✢❴ ◆❘❘❙ P❘✥❘❧❛✤❙❘P ✥❵ ✢❛❵❖❙✥ ✥❵ ➍①❹✈❡❢❢❢ ✢❙P ❦✤▼▼ ◆❘ P❘✣❧❘♠✤✢✥❘P ❴✥❧✢✤◗❥✥▼✤❙❘ ❵❪❘❧ ❴❘❪❘❙ ✐❘✢❧❴❣

❶▼❘✢❴❘ ✣❧❘✣✢❧❘ ✥❥❘ ❜❵▼▼❵❦✤❙◗♥✢❣ ✜✢❴❥❜▼❵❦ ❜❵❧ ✥❥❘ ✣❧❵❫❘♠✥◆❣ ❶✢✐◆✢♠④ ✤❙ ✐❘✢❧❴ ❷✥❥❘ ♠❥❵✤♠❘ ❦❥✤♠❥ ❛❵P❘▼ ✥❵ ❖❴❘ ✤❴ ✐❵❖❧❴❸♠❣ ♦❘✥ ❶❧❘❴❘❙✥ s✢▼❖❘ ♠✢▼♠❖▼✢✥✤❵❙ ✢✥ ❿❻P❣ ✥❥❘ ❾⑧⑧

❚❯❱❲❳❯❨ ❬❩⑨❣➈❣ ✢✥✥❘❛✣✥❴ ✥❵ ◆❖✐ ✢ ❛✢♠❥✤❙❘ ✢✥ ✢ ♠❵❴✥ ❵❜ ➄✈❡❢❢❢❣ ⑤❥✤❴ ❛✢♠❥✤❙❘ ❦✤▼▼ ◆❘ ❖❴❘P ✥❵ ✣❧❵P❖♠❘ ❧❘❴❖▼✥❴ ✢❴ ❜❵▼▼❵❦❴♥

➍✇✢▼❘❴ ①①✈❡❢❢❢❽✤❧❘♠✥ ❘⑥✣❣ ①❢❺❡①✈❢✇❖◆✥❵✥✢▼ ❞✈❡➄✈❢❽❘✣❧❘♠✤✢✥✤❵❙ ❞✈❡❢❢❢❾r⑤ ➄✈❢

❖❴❘❜❖▼ ▼✤❜❘ ✈ ✐❘✢❧❴❡ ❙❵ ✥✢⑥ ✥❵ ◆❘ ♠❵❙❴✤P❘❧❘P❡ ❙❵ P✤❴✣❵❴✢▼ ❪✢▼❖❘

➔→➣↔↕➙→➛➜ ✢❣ ✥❥❘ ✣❧❵❫❘♠✥ ♠✢❴❥ ❜▼❵❦◆❣ ✥❥❘ ✣✢✐◆✢♠④ ✣❘❧✤❵P♠❣ ✥❥❘ ♦❶s ✢✥ ❞❢❻P❣ ✥❥❘ ❾⑧⑧

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➝➞➟➠ ➡➢➤➥➦➧➨➩➥

➫➭➯➲ ➳➵➸➺➻➼➽➾➺ ➚➪

➶➦➟➹ ➘➴➢ ➠➞➷➦ ➬➴➮➦ ➨➩➧➴ ➧➠➦ ➟➦➱➦➬➧➨➴➩ ➥✃➴➢❐ ❒➴✃ ➞ ❮➴➡ ➞➟ ➧✃➦➞➟➢✃➦✃ ❒➴✃ ➧➠➦ ❰✃➨➷➦✃ ➬➠➞✃❰ ➠➴➱➨➤➞➘ ➬➞➮❐Ï

Ð➠➦ ➴➩➱➘ ➠➢✃➤➱➦ ➱➦❒➧ ➨➟ ➧➴ ❐✃➦❐➞✃➦ ➞ ÑÒ➘➦➞✃ ➬➞➟➠ ➡➢➤➥➦➧ ➡➞➟➦➤ ➴➩ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➤➞➧➞ Ô

Õ✃➴❒➨➧ Ö ×➴➟➟ ➟➧➞➧➦➮➦➩➧ Ô

➶➦➞✃ Ø ➶➦➞✃ Ù ➶➦➞✃ Ñ

Ú➦➷➦➩➢➦➟ ÙÛ➹ÜÜÜ ÙÝ➹ÜÜÜ ÙÞ➹ÜÜÜ

ß❐➦✃➞➧➨➩➥ ➬➴➟➧➟ ØÞ➹ÛÜÜ Øà➹ÙÜÜ Øà➹áÜÜ

âßÕ Þ➹ÛÜÜ Þ➹àÜÜ à➹ØÜÜ

ã➦❐✃➦➬➨➞➧➨➴➩ Ñ➹ÜÜÜ Ñ➹ÜÜÜ Ñ➹ÜÜÜ

ä➩➧➦✃➦➟➧ åÜÜ åÜÜ åÜÜ

Õ✃➴❒➨➧ ➡➦❒➴✃➦ ➧➞æ å➹ØÜÜ å➹åÜÜ å➹ÞÜÜ

ä➩➬➴➮➦ ➧➞æ Ø➹ÝåÜ Ø➹ÞÝÜ Ø➹ààÜ

ç➦➧ Õ✃➴❒➨➧ Ù➹åÝÜ Ù➹ÝåÜ Ù➹àÙÜ

➝➞➟➠ ➞➷➞➨➱➞➡➱➦ ➞➧ ➧➠➦ ➡➦➥➨➩➩➨➩➥ ➴❒ ➘➦➞✃ Ø Ô è ÙÏÛÜÜ

➝➠➞➩➥➦➟ ➨➩ Ó➴✃é➨➩➥ ➬➞❐➨➧➞➱ Ô

ê➬➬➴➢➩➧➟ ✃➦➬➦➨➷➞➡➱➦ ÛÜÜ Ø➹ÜÜÜ Ø➹ÜÜÜ

➨➩➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦

ä➩➷➦➩➧➴✃➨➦➟ ÙÜÜ ÑÜÜ ÙÜÜ

➨➩➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦

➝➢✃✃➦➩➧ ➱➨➞➡➨➱➨➧➨➦➟ Ø➹ÜÜÜ ÛÜÜ Ø➹ÜÜÜ

➤➦➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦

➝➴✃❐➴✃➞➧➨➴➩ ➧➞æ ➨➟ ❐➞➨➤ ➨➩ ➧➠➦ ➘➦➞✃ ❒➴➱➱➴Ó➨➩➥ ➧➠➦ ➡➴➴é ➦➩➧✃➘

×➴➞➩➟ Ô

ä➩ ➘➦➞✃ ➧➠✃➦➦ ➧➠➦ ➦æ➨➟➧➨➩➥ ➱➴➞➩ ➴❒ åÏÜÜÜ è ➠➞➟ ➧➴ ➡➦ ✃➦❐➞➨➤ ➧➴ ➧➠➦ ➡➞➩éÏ

ä➩➷➦➟➧➮➦➩➧➟ Ô

ê➟ ➟➴➴➩ ➞➟ ➧➠➦✃➦ ➨➟ ➦➩➴➢➥➠ ➬➞➟➠ ➞➷➞➨➱➞➡➱➦ ❒➨➷➦ ➩➦Ó ➡➴➞➧➟ ➞✃➦ ➧➴ ➡➦ ❐➢✃➬➠➞➟➦➤Ï Ð➠➦ ➬➴➟➧ ❐➦✃

➡➴➞➧ ➨➟ è ØÏÛÜÜÏä➥➩➴✃➦ ➧➠➦ ➤➦❐✃➦➬➨➞➧➨➴➩ ➞➩➤ ➧➠➦ ➬➠➞➩➥➦ ➴➩ ➨➩➬➴➮➦ ➧➞æ ❒➴✃ ➧➠➨➟Ï

ã➨➟➧✃➨➡➢➧➨➴➩ ➧➴ ➴Ó➩➦✃➟ Ô

Ð➠➦➘ ➞✃➦ ➬➴➢➩➧➨➩➥ ➴➩ ➞ ❒➨æ➦➤ ➞➮➴➢➩➧ ➴❒ è ÙÏÜÜÜ ❐➦✃ ➘➦➞✃Ï

ç➴➧➦Ô ➨➥➩➴✃➦ ➞➩➘ ➬➠➞➩➥➦➟ ➨➩ ➨➩➷➦➩➧➴✃➘

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➝➞➟➠ ➡➢➤➥➦➧➨➩➥

➫➭➯➲ ➳➵➸➺➻➼➽➾➺ ➚ë

Õ➱➦➞➟➦ ❐✃➦❐➞✃➦ ➞ ÑÒ➘➦➞✃➟ ➬➞➟➠ ➡➢➤➥➦➧ ➡➞➟➦➤ ➴➩ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➤➞➧➞ Ô

ä➩➬➴➮➦ ➟➧➞➧➦➮➦➩➧ Ô

➶➦➞✃ Ø ➶➦➞✃ Ù ➶➦➞✃ Ñ

âßÕìäíî➝ìäêïð ØÜÜ➹ÜÜÜ ØÙÜ➹ÜÜÜ ØåÜ➹ÜÜÜ

ã➦❐✃➦➬➨➞➧➨➴➩ ÙÜ➹ÜÜÜ ÙÜ➹ÜÜÜ ÙÛ➹ÜÜÜ

Õ✃➴❒➨➧ ➡➦❒➴✃➦ ➧➞æ àÜ➹ÜÜÜ ØÜÜ➹ÜÜÜ ØØÛ➹ÜÜÜ

Ð➞æ Ùå➹ÜÜÜ ÑÜ➹ÜÜÜ Ñå➹ÛÜÜ

ç➦➧ ä➩➬➴➮➦ ÛÝ➹ÜÜÜ ÞÜ➹ÜÜÜ àÜ➹ÛÜÜ

➝➞➟➠ ➡➞➱➞➩➬➦ íìî ➨➟ ñ ÛÏÜÜÜ

➝➠➞➩➥➦➟ ➨➩ ➧➠➦ ➬➢✃✃➦➩➧ ➞➬➬➴➢➩➧➟ Ô

➝➢✃✃➦➩➧ ➱➨➞➡➨➱➨➧➨➦➟ òÙ➹ÜÜÜó ➤➦➬✃➦➞➟➦ Ù➹ÜÜÜ ➨➩➬✃➦➞➟➦ òÙ➹ÜÜÜó ➤➦➬✃➦➞➟➦

ê➬➬➴➢➩➧➟ ✃➦➬➦➨➷➞➡➱➦➟ Ù➹ÜÜÜ ➨➩➬✃➦➞➟➦ òÙ➹ÜÜÜó ➤➦➬✃➦➞➟➦ Ù➹ÜÜÜ ➨➩➬✃➦➞➟➦

ä➩➷➦➩➧➴✃➨➦➟ Ø➹ÜÜÜ ➨➩➬✃➦➞➟➦ òØ➹ÜÜÜó ➤➦➬✃➦➞➟➦ Ø➹ÜÜÜ ➨➩➬✃➦➞➟➦

➝➴✃❐➴✃➞➧➨➴➩ Ð➞æ Ô

➨➟ ➧➴ ➡➦ ❐➞➨➤ ➨➩ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➘➦➞✃

ä➩➷➦➟➧➮➦➩➧➟ Ô

ß➩➦ ➮➞❮➴✃ ➨➩➷➦➟➧➮➦➩➧ ➴❒ ñ ÙÛÜÏÜÜÜ ➨➟ ❐➱➞➩➩➦➤Ï ß❒ ➧➠➞➧ ➞➮➴➢➩➧ ñ ØÛÜÏÜÜÜ ➨➟ ➟❐➦➩➧ ➨➩ ➘➦➞✃ Ù

➞➩➤ ñ ØÜÜÏÜÜÜ ➨➩ ➘➦➞✃ ÑÏ

ã➨➟➧✃➨➡➢➧➨➴➩ ➧➴ ➴Ó➩➦✃➟ Ô

ÛÜ ô ➴❒ ➧➠➦ ➩➦➧ ➨➩➬➴➮➦ ➨➟ ❐➞➨➤ ➧➴ ➴Ó➩➦✃➟ ➨➩ ➧➠➦ ➩➦æ➧ ➘➦➞✃Ï

ï➟➦ ➧➠➦ ➞❮➢➟➧➦➤ ➩➦➧ ➨➩➬➴➮➦ ➞❐❐✃➴➞➬➠Ï

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➝➞➟➠ ➡➢➤➥➦➧➨➩➥

➫➭➯➲ ➳➵➸➺➻➼➽➾➺ ➚õ

ï➟➦ ➧➠➦ ÛÒ➘➦➞✃ ❐✃➴❮➦➬➧➨➴➩ ➴❒ ➧➠➦ ❰ö➠➞➱➱➴➧ ÷➴➧➦➱❰ ➞➩➤ ➧➠➦ ➩➴➧➦➟ ➡➦➱➴Ó ➧➴ ❐✃➴➤➢➬➦

➞ ➬➞➟➠ ➡➢➤➥➦➧ ❒➴✃ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ❒➨➷➦ ➘➦➞✃➟ ➡➘ ➞❐❐➱➘➨➩➥ ➧➠➦ ➞➤❮➢➟➧➦➤ ➩➦➧ ➨➩➬➴➮➦ ➞❐❐✃➴➞➬➠Ï

Ð÷ð ö÷ê××ßÐ ÷ßÐð× ➝ßçãðçöðã äç➝ßøð öÐêÐðøðçÐ

➶➦➞✃ Ø ➶➦➞✃ Ù ➶➦➞✃ Ñ ➶➦➞✃ å ➶➦➞✃ Û

Ð➴➧➞➱ ✃➦➷➦➩➢➦➟ ÙÞÛ➹ÜÜÜ Ùàà➹àÜÜ ÑÜÑ➹ÙÜÜ ÑØà➹åÜÜ ÑÑå➹ÑÜÜ

ã➨✃➦➬➧ ➦æ❐➦➩➟➦➟ ØÙÑ➹àÜÜ ØØØ➹ÑÜÜ ØØå➹ÑÜÜ ØØà➹ÙÜÜ ØØá➹ÜÜÜ

ï➩➤➨➟➧✃➨➡➢➧➦➤ ß❐➦✃➞➧➨➩➥ ðæ❐➦➩➟➦➟ ØØÜ➹ÜÜÜ ØÜØ➹ØÜÜ ØÜÑ➹ØÜÜ ØÜà➹ÑÜÜ ØØÑ➹ÞÜÜ

ä➩➬➴➮➦ ➡➦❒➴✃➦ î➨æ➦➤ ➝➠➞✃➥➦➟ åØ➹ÙÜÜ ÞÝ➹åÜÜ àÛ➹àÜÜ áØ➹áÜÜ ØÜØ➹ÝÜÜ

Ú➦➩➧➹ ❐✃➴❐➦✃➧➘ ➧➞æ➹ ➨➩➟➢✃➞➩➬➦ ÛÛ➹ÜÜÜ ÛÛ➹ÜÜÜ ÛÛ➹ÜÜÜ ÛÛ➹ÜÜÜ ÛÛ➹ÜÜÜ

ã➦❐✃➦➬➨➞➧➨➴➩ ØÜ➹ÜÜÜ ØÜ➹ÜÜÜ à➹ÜÜÜ à➹ÜÜÜ Þ➹ÜÜÜ

ä➩➬➴➮➦ ➡➦❒➴✃➦ ➨➩➧➦✃➦➟➧ òÙÑ➹àÜÜó ØØ➹åÜÜ ÙÙ➹àÜÜ Ùà➹áÜÜ Ñá➹ÝÜÜ

➞Ï ã➨➷➨➤➦➩➤➟Ô Ð➠➦ ➴Ó➩➦✃ ➤➦➟➨✃➦➟ ÛÜô ➴❒ ➩➦➧ ➨➩➬➴➮➦Ï Ð➠➦ ➤➨➷➨➤➦➩➤➟ ➞✃➦ ❐➞➨➤ ➴➩

ø➞✃➬➠ Ø➹ ➴❒ ➧➠➦ ➘➦➞✃ ❒➴➱➱➴Ó➨➩➥ ➧➠➦ ➦æ❐➦➩➟➦Ï

➡Ï ➝➴✃❐➴✃➞➧➨➴➩ ➧➞æÔ ➞ Û ➘➦➞✃ ➧➞æ ➠➴➱➨➤➞➘ ➠➞➟ ➡➦➦➩ ➥✃➞➩➧➦➤ Ò ➧➞æ ➩➦➦➤➟ ➩➴➧ ➧➴ ➡➦

➬➴➩➟➨➤➦✃➦➤

➬Ï ä➩➷➦➟➧➮➦➩➧➟Ô Ð➠➦ é➨➧➬➠➦➩ ➴❒ ➧➠➦ ö➠➞➱➱➴➧ ÷➴➧➦➱ ➩➦➦➤➟ ➟➴➮➦ ➞➤➤➨➧➨➴➩➞➱ ➦ù➢➨❐➮➦➩➧Ï

Ð➠➨➟ Ó➨➱➱ ➡➦ ❐➢✃➬➠➞➟➦➤ ➨➩ ➘➦➞✃ Ù ❒➴✃ ÙÛ➹ÜÜÜÏ ä➩ ➘➦➞✃ Û ➞➩ ➞➮➴➢➩➧ ➴❒ ÛÜ➹ÜÜÜ Ó➨➱➱ ➡➦

➨➩➷➦➟➧➦➤ ➨➩➧➴ ✃➦➟➧➞➢✃➞➩➧ ➦ù➢➨❐➮➦➩➧Ï Ð➠➦ ➤➦❐✃➦➬➨➞➧➨➴➩ ❒➴✃ ➧➠➦➟➦ ➨➩➷➦➟➧➮➦➩➧➟

➨➟ ➞➱✃➦➞➤➘ ➬➴➩➟➨➤➦✃➦➤Ï

➤Ï ×➴➞➩Ô ê ➱➴➞➩ ❒➴✃ ÙÜ➹ÜÜÜ Ó➨➱➱ ➡➦ ➧➞é➦➩ ➢❐ ❐➦✃ ú➞➩Ï Ø➹ ➘➦➞✃ ØÏ Ð➠➦ ➱➴➞➩ Ó➨➱➱ ➡➦ ✃➦❐➞➨➤

➴➩ ã➦➬Ï ÑØ➹ ➘➦➞✃ Û ➞➩➤ ➨➩➧➦✃➦➟➧ ➴❒ àô ➨➟ ➤➢➦ ➞➧ ➧➠➦ ➦➩➤ ➴❒ ➦➞➬➠ ➘➦➞✃Ï

➦Ï Ð➠➦ ❒➴➱➱➴Ó➨➩➥ Ó➴✃é➨➩➥ ➬➞❐➨➧➞➱ ➮➴➷➦➮➦➩➧➟ ➞✃➦ ➧➴ ➡➦ ➬➴➩➟➨➤➦✃➦➤Ô

➶➦➞✃ Ø ➶➦➞✃ Ù ➶➦➞✃ Ñ ➶➦➞✃ å ➶➦➞✃ Û

ä➩➷➦➩➧➴✃➨➦➟ åÜÜ åÜÜ åÜÜ åÜÜ åÜÜ

➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦

ê➬➬➧Ï Ú➦➬➦➨➷➞➡➱➦ Ø➹ÜÜÜ Ø➹ÜÜÜ ÛÜÜ ÛÜÜ ÛÜÜ

➤➦➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦

ê➬➬➧Ï Õ➞➘➞➡➱➦ ÝÜÜ ÝÜÜ ÝÜÜ ÝÜÜ ÝÜÜ

➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦

ï➟➦ ➧➠➦ ➞❮➢➟➧➦➤ ➩➦➧ ➨➩➬➴➮➦ ➞❐❐✃➴➞➬➠Ï

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➝➞➟➠ ➡➢➤➥➦➧➨➩➥

➫➭➯➲ ➳➵➸➺➻➼➽➾➺ ➚û

ð➤ ßüç➦➨➱➱ ➠➞➟ ➞➩ ➴❒❒➦✃ ➧➴ ➴❐➦✃➞➧➦ ❰Ð➠➦ Õ➦➥❰ Ò ➞ ➡➢➟➘ ➡➞✃ ➞➩➤ ➡➴Ó➱➨➩➥ ➬➦➩➧➦✃Ï ð➤ ➨➟

❐✃➴➷➨➤➨➩➥ ➘➴➢ Ó➨➧➠ ➧➠➦ ➦➟➧➨➮➞➧➦➟ ❒➴✃ ➧➠➦ ➩➦æ➧ ➧➠✃➦➦ ➘➦➞✃➟Ô

Ú➦➷➦➩➢➦ ➘➦➞✃ Ø àÜÜ➹ÜÜÜ

❒➴✃ ➧➠➦ ➘➦➞✃➟ ❒➴➱➱➴Ó➨➩➥ ➞➤➤ ➴➩ Ûô ❐ÏêÏ

➝➴➩➧✃➴➱➱➞➡➱➦ ➦æ❐➦➩➟➦➟ ÞÛô

ã➦❐✃➦➬➨➞➧➨➴➩ ➘➦➞✃ Ø àÜ➹ÜÜÜ

❒➴✃ ➧➠➦ ➘➦➞✃➟ ❒➴➱➱➴Ó➨➩➥ ➞➤➤ ➴➩ Ûô ❐ÏêÏ

➝➴✃❐➴✃➞➧➨➴➩ ➧➞æ åÜô

❒➴✃ ➟➨➮❐➱➨➬➨➧➘ ➞➟➟➢➮➦ ➧➠➞➧ ➬➴✃❐➴✃➞➧➨➴➩ ➧➞æ ➨➟

❐➞➨➤ ➨➩ ➧➠➦ ➟➞➮➦ ➘➦➞✃ ➞➟ ➦æ❐➦➩➟➦➤Ï

ý➴✃é➨➩➥ ➬➞❐➨➧➞➱Ô

ê➬➬Ï ✃➦➬➦➨➷➞➡➱➦ Ó➨➱➱ ➨➩➬✃➦➞➟➦ ➡➘ þÑ➹ÜÜÜ ❐ÏêÏ

ä➩➷➦➩➧➴✃➨➦➟ Ó➨➱➱ ➨➩➬✃➦➞➟➦ ➡➘ þØ➹ÜÜÜ ❐ÏêÏ

ê➬➬Ï ❐➞➘➞➡➱➦ Ó➨➱➱ ➨➩➬✃➦➞➟➦ ➡➘ þÙ➹ÜÜÜ ❐ÏêÏ

ê ➱➴➞➩ ➩➦➦➤➟ ➧➴ ➡➦ ✃➦❐➞➨➤ ➞➬➬➴✃➤➨➩➥ ➧➴ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➟➬➠➦➤➢➱➦Ô

➶➦➞✃ Ø ÑÛ➹ÜÜÜ

➶➦➞✃ Ù åÜ➹ÜÜÜ

➶➦➞✃ Ñ åÛ➹ÜÜÜ

ð➤ Ó➞➩➧➟ ➧➴ Ó➨➧➠➤✃➞Ó þåÜ➹ÜÜÜ ➨➩ ➘➦➞✃ Ø

❒➴✃ ➧➠➦ ➘➦➞✃➟ ❒➴➱➱➴Ó➨➩➥ ➞➤➤ ➴➩ Ûô ❐ÏêÏ

➝➞➟➠ ➞➷➞➨➱➞➡➱➦ ➞➧ ➡➦➥➨➩➩➨➩➥ ➘➦➞✃ Ø ØÜ➹ÜÜÜ

ð➤ Ó➞➩➧➟ ➧➴ ➡✃➨➩➥ ➧➠➦ é➨➧➬➠➦➩ ➢❐Ò➧➴Ò➤➞➧➦ ➨❒ ➧➠➦ ➡➞✃ ➬➞➩

❐✃➴➤➢➬➦ ➦➩➴➢➥➠ ➬➞➟➠Ï Ð➠➦ ➨➩➷➦➟➧➮➦➩➧ Ó➴➢➱➤ ➡➦Ô

Õ➠➞➟➦ Ø ØÜÜ➹ÜÜÜ

Õ➠➞➟➦ Ù àÜ➹ÜÜÜ

Õ➠➞➟➦ Ñ ÛÜ➹ÜÜÜ

ß➩➱➘ ➨➩➷➦➟➧ ➨❒ ➧➠➦✃➦ ➨➟ ➟➢❒❒➨➬➨➦➩➧ ➬➞➟➠ ➞➷➞➨➱➞➡➱➦ ➨➩ ➧➠➦

➘➦➞✃Ï ø➴✃➦ ➧➠➞➩ ➴➩➦ ✃➦➩➴➷➞➧➨➴➩ ❐➠➞➟➦ ➨➩ ➞ ➘➦➞✃

Ó➴➢➱➤ ➡➦ ❐➴➟➟➨➡➱➦Ï

Ú➦ù➢➨✃➦➤Ô Õ✃➦❐➞✃➦ ➞ ➬➴➩➤➦➩➟➦➤ ➨➩➬➴➮➦ ➟➧➞➧➦➮➦➩➧ ➞➩➤ ➞ ÑÒ➘➦➞✃ ➬➞➟➠ ❐✃➴❮➦➬➧➨➴➩ ò➢➟➦ ➧➠➦ ➞➤❮➢➟➧➦➤ ➩➦➧

➨➩➬➴➮➦ ➞❐❐✃➴➞➬➠ó

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➝➞➟➠ ➡➢➤➥➦➧➨➩➥

➫➭➯➲ ➳➵➸➺➻➼➽➾➺ ➚ÿ

ï➟➦ ➧➠➦ ➞➤❮➢➟➧➦➤ ➩➦➧ ➨➩➬➴➮➦ ➞❐❐✃➴➞➬➠ ➧➴ ❐✃➦❐➞✃➦ ➞ ÑÒ➘➦➞✃ ➬➞➟➠ ❒➴✃➦➬➞➟➧ ❒➴✃ ➧➠➦

✆✃➞➟➩➞❐➴➱➟é➘ ÷➴➧➦➱➹ ê➮➟➧➦✃➤➞➮Ï ï➟➦ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➤➞➧➞ ➞➩➤ ➞➟➟➢➮❐➧➨➴➩➟Ô

➨➩ ➧➠➴➢➟➞➩➤➟ ➴❒ ñ ➘➦➞✃ Ø ➘➦➞✃ Ù ➘➦➞✃ Ñ

Ð➴➧➞➱ ✃➦➷➦➩➢➦➟ Ûå➹ÞÛÜ ÛÞ➹åàà ÝÜ➹ÑÝÙ

ã➨✃➦➬➧ ➦æ❐➦➩➟➦➟ åÑ➹ÙÛÑ åÙ➹áåÛ åÑ➹åÛÛ

ä➩➬➴➮➦ ➞❒➧➦✃ ➢➩➤➨➟➧✃➨➡➢➧➦➤ ➦æ❐Ï ØØ➹åáÞ Øå➹ÛåÑ ØÝ➹áÜÞ

Ú➦➩➧➹ ❐✃➴❐➦✃➧➘ ➧➞æ ➨➩➟➢✃➞➩➬➦ Þ➹ÜÜÜ Þ➹ÜÜÜ Þ➹ÑÛÜ

ã➦❐✃➦➬➨➞➧➨➴➩ Ø➹ÑÛå Ø➹ÙÛÛ Ø➹ÜÛÑ

ä➩➬➴➮➦ ➡➦❒➴✃➦ ➨➩➧➦✃➦➟➧ ➞➩➤ ➧➞æ Ñ➹ØåÑ Ý➹Ùàà à➹ÛÜå

ê➤➤➨➧➨➴➩➞➱ ➨➩❒➴✃➮➞➧➨➴➩Ô

➞Ï Õ➦✃ ÑØÏØÙÏ➘➦➞✃ Ü ➧➠➦✃➦ ➨➟ ➟➴➮➦ Ý➹ÜÜÜ➹ÜÜÜ ➱➴➞➩ ➴➢➧➟➧➞➩➤➨➩➥Ï Ð➠➦ ❐➞➘➮➦➩➧ ➟➬➠➦➤➢➱➦ ❒➴✃ ➧➠➨➟ ➨➟Ô

Ð➴➧➞➱ ➴❒ Ó➠➨➬➠ ➴❒ Ó➠➨➬➠

➨➩ ➧➠➴➢➟➞➩➤➟ ➴❒ ñ ❐➞➘➮➦➩➧ ä➩➧➦✃➦➟➧ ❐✃➨➩➬➨❐➞➱

Õ➞➘➮➦➩➧ ÑÜÏáÏ➘➦➞✃ Ø Ñ➹ÞÙÜ ÞÙÜ Ñ➹ÜÜÜ

Õ➞➘➮➦➩➧ ÑÜÏáÏ➘➦➞✃ Ù Ñ➹ÑÝÜ ÑÝÜ Ñ➹ÜÜÜ

➡Ï ➝➴✃❐➴✃➞➧➨➴➩ ➧➞æ ✃➞➧➦ ➨➟ ÙÜôÏ Ð➠➦ ➧➞æ ➨➟ ➤➢➦ ❒➴✃ ❐➞➘➮➦➩➧ ❐➦✃ ú➢➩➦ ÑÜ➹ ➨➩ ➧➠➦ ➘➦➞✃ ❒➴➱➱➴Ó➨➩➥ ➧➠➦

➦æ❐➦➩➟➦Ï Ð➠➦✃➦ ➨➟ ➩➴ ➧➞æ ➤➢➦ ❒➴✃ ➘➦➞✃ ÜÏ

➬Ï Ð➠➦ ➴Ó➩➦✃➟ ➤➦➟➨✃➦ ➧➴ ✃➦➬➦➨➷➦ ÛÜô ➴❒ ➧➠➦ ➩➦➧ ➨➩➬➴➮➦ ➞➟ ➤➨➷➨➤➦➩➤Ï Ð➠➦ ❐➞➘➮➦➩➧ ❒➴✃ ➧➠➦➟➦

➨➟ ➮➞➤➦ ➨➩ ø➞✃➬➠ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➘➦➞✃Ï Ð➠➦ ❐➞➘➮➦➩➧ ❒➴✃ ➧➠➦ ➘➦➞✃ Ü ➤➨➷➨➤➦➩➤ Ó➨➱➱ ➡➦ àÜÜ➹ÜÜÜÏ

➤Ï ê ➟➴❒➧ ✃➦➩➴➷➞➧➨➴➩ ➴❒ ✃➴➴➮➟ ➨➟ ➧➴ ➡➦ ➤➴➩➦ ➨➩ ➘➦➞✃ ÑÏ Ð➠➦ ➬➴➟➧ Ó➨➱➱ ➡➦ Ù➮➨➴ ñ

Ð➠➦ ➤➦❐✃➦➬➨➞➧➨➴➩ ❒➴✃ ➧➠➨➟ ➟➧➨➱➱ ➩➦➦➤➟ ➧➴ ➡➦ ➬➴➩➟➨➤➦✃➦➤Ï ï➟➦ ❒➢➱➱ ➞➩➩➢➞➱ ➤➦❐✃➦➬➨➞➧➨➴➩ Ó➨➧➠

➞ ➢➟➦❒➢➱ ➱➨❒➦ ➴❒ ➧➠➦ ✃➦➩➴➷➞➧➦➤ ✃➴➴➮➟ ➴❒ Û ➘➦➞✃➟

➦Ï Ð➠➦ ➬➞➟➠ ➡➞➱➞➩➬➦ ❐➦✃ ÑØÏØÙÏ➘➦➞✃ Ü ➨➟ ñ ÑÞÛ➹ÜÜÜÏ

❒Ï Ð➠➦ ❒➴➱➱➴Ó➨➩➥ ➬➠➞➩➥➦➟ ➨➩ Ó➴✃é➨➩➥ ➬➞❐➨➧➞➱ ➞✃➦ ➧➴ ➡➦ ➬➴➩➟➨➤➦✃➦➤Ô

➨➩ ➧➠➴➢➟➞➩➤➟ ➴❒ ñ ➘➦➞✃ Ø ➘➦➞✃ Ù ➘➦➞✃ Ñ

ä➩➷➦➩➧➴✃➨➦➟ ÑÜÜ ÙÜÜ Ü

➤➦➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦

➝➢✃✃➦➩➧ ➱➨➞➡➨➱➨➧➨➦➟ ØÜÜ ÑÜÜ ÑÜÜ

➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦ ➨➩➬✃➦➞➟➦

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➝➞➟➠ ➡➢➤➥➦➧➨➩➥

➫➭➯➲ ➳➵➸➺➻➼➽➾➺ ➚✁

ï➟➦ ➧➠➦ ➞➤❮➢➟➧➦➤ ➩➦➧ ➨➩➬➴➮➦ ➞❐❐✃➴➞➬➠ ➧➴ ❐✃➦❐➞✃➦ ➞ ÑÒ➘➦➞✃ ➬➞➟➠ ❒➴✃➦➬➞➟➧ ❒➴✃ ➧➠➦

í➞➨➱➨❒❒ ÷➴➧➦➱➹ ä➩➷➦✃➩➦➟➟Ï ï➟➦ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➤➞➧➞ ➞➩➤ ➞➟➟➢➮❐➧➨➴➩➟Ô

➘➦➞✃ Ø ➘➦➞✃ Ù ➘➦➞✃ Ñ

âßÕ áÛ➹ÜÜÜ ØÞÜ➹ÜÜÜ ØÝÛ➹ÜÜÜ

Ú➦➩➧➹ ❐✃➴❐➦✃➧➘ ➧➞æ➹ ➨➩➟➢✃➞➩➬➦ ØÙ➹ÜÜÜ ØÙ➹ÛÜÜ ØÑ➹ÜÜÜ

ã➦❐✃➦➬➨➞➧➨➴➩ ØÝ➹ÜÜÜ Øå➹ÙÜÜ ØÙ➹ØÜÜ

ä➩➬➴➮➦ ➡➦❒➴✃➦ ➨➩➧➦✃➦➟➧ ➞➩➤ ➧➞æ ÝÞ➹ÜÜÜ ØåÑ➹ÑÜÜ ØÑá➹áÜÜ

ê➤➤➨➧➨➴➩➞➱ ➨➩❒➴✃➮➞➧➨➴➩ ➧➴ ➡➦ ➬➴➩➟➨➤➦✃➦➤Ô

➞Ï ß➩ ú➢➩➦ ÑÜ➹ ➘➦➞✃ Ø ➞ ❒➨➩➞➱ ➱➴➞➩ ✃➦❐➞➘➮➦➩➧ Ó➨➱➱ ➠➞➷➦ ➧➴ ➡➦ ➮➞➤➦ ➧➴ ➧➠➦ ➡➞➩éÏ Ð➠➦ ➞➮➴➢➩➧ ➴❒

è ÙÛ➹ÜÜÜ Ó➨➱➱ ➬➴➷➦✃ èÛ➹ÜÜÜ ➨➩➧➦✃➦➟➧ ➞➩➤ èÙÜ➹ÜÜÜ ✃➦❐➞➘➮➦➩➧ ➴❒ ❐✃➨➩➬➨❐➞➱Ï

➡Ï Ð➠➦ ❒➴➱➱➴Ó➨➩➥ ➨➩➷➦➟➧➮➦➩➧➟ ➞✃➦ ❐➱➞➩➩➦➤Ô

➘➦➞✃ Ø ➘➦➞✃ Ù ➘➦➞✃ Ñ

ç➦Ó ➦ù➢➨❐➮➦➩➧ ÙÜ➹ÜÜÜ ÑÜ➹ÜÜÜ ÑÜ➹ÜÜÜ

Ú➦➩➴➷➞➧➨➴➩ ➴❒ ✃➴➴➮➟ Ò ÞÜ➹ÜÜÜ ÑÛ➹ÜÜÜ

ã➦❐✃➦➬➨➞➧➨➴➩ ❒➴✃ ➧➠➦➟➦ ➨➩➷➦➟➧➮➦➩➧➟ ➠➞➟ ➩➴➧ ➘➦➧ ➡➦➦➩ ➬➴➩➟➨➤➦✃➦➤Ï ê➟➟➢➮➦ ➟➧✃➞➨➥➠➧Ò➱➨➩➦➹ ➞➩➩➢➞➱

➤➦❐✃➦➬➨➞➧➨➴➩ÏÐ➠➦ ➢➟➦❒➢➱ ➱➨❒➦ ➴❒ ➦ù➢➨❐➮➦➩➧ ➨➟ Û ➘➦➞✃➟➹ ❒➴✃ ➧➠➦ ✃➴➴➮➟ Þ ➘➦➞✃➟Ï

Ð➠➦ ➨➩➷➦➟➧➮➦➩➧➟ ➞✃➦ ➴➩➱➘ ➧➴ ➡➦ ➤➴➩➦ ➨❒ ➧➠➦✃➦ ➨➟ ➟➢❒❒➨➬➨➦➩➧ ➬➞➟➠ ➞➷➞➨➱➞➡➱➦� ö➠➴➢➱➤ ➧➠➦ ➩➦➬➦➟➟➞✃➘

➬➞➟➠ ➩➴➧ ➡➦ ➞➷➞➨➱➞➡➱➦ ➤➦➱➞➘ ➧➠➦ ➨➩➷➦➟➧➮➦➩➧ ➧➴ ➧➠➦ ➩➦æ➧ ➘➦➞✃Ï

➡Ï ➝➴✃❐➴✃➞➧➨➴➩ ➧➞æ ✃➞➧➦ ➨➟ ÑÜôÏ Ð➠➦ ➧➞æ ➨➟ ➤➢➦ ❒➴✃ ❐➞➘➮➦➩➧ ❐➦✃ ú➢➩➦ ÑÜ➹ ➨➩ ➧➠➦ ➘➦➞✃ ❒➴➱➱➴Ó➨➩➥ ➧➠➦

➦æ❐➦➩➟➦Ï Ð➠➦ ➧➞æ ➧➴ ➡➦ ❐➞➨➤ ➨➩ ➘➦➞✃ Ø ❒➴✃ ➘➞✃ Ü ➨➟ ØÛ➹ÜÜÜÏ

➬Ï Ð➠➦ ➴Ó➩➦✃➟ ➤➦➟➨✃➦ ➧➴ ✃➦➬➦➨➷➦ ÛÜô ➴❒ ➧➠➦ ➩➦➧ ➨➩➬➴➮➦ ➞➟ ➤➨➷➨➤➦➩➤➹ ➡➢➧ ➞➧ ➱➦➞➟➧ èØÜ➹ÜÜÜÏ Ð➠➦

❐➞➘➮➦➩➧ ❒➴✃ ➧➠➨➟ ➨➟ ➮➞➤➦ ➨➩ ø➞✃➬➠ ➧➠➦ ❒➴➱➱➴Ó➨➩➥ ➘➦➞✃Ï Ð➠➦ ❐➞➘➮➦➩➧ ❒➴✃ ➧➠➦ ➘➦➞✃ Ü ➤➨➷➨➤➦➩➤ Ó➨➱➱

➡➦ èØÜ➹ÜÜÜÏ

➤Ï Ð➠➦ ➬➞➟➠ ➡➞➱➞➩➬➦ ❐➦✃ ÑØÏØÙÏ➘➦➞✃ Ü ➨➟ èÑ➹ÜÜÜÏ

❒Ï Ð➠➦ ❒➴➱➱➴Ó➨➩➥ Ó➴✃é➨➩➥ ➬➞❐➨➧➞➱ ➮➴➷➦➮➦➩➧➟ ➞✃➦ ➧➴ ➡➦ ➬➴➩➟➨➤➦✃➦➤Ô

➘➦➞✃ Ø ➘➦➞✃ Ù ➘➦➞✃ Ñ

ä➩➷➦➩➧➴✃➨➦➟ Ù➹ÜÜÜ Ø➹ÜÜÜ Ø➹ÜÜÜ

➨➩➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦

➝➢✃✃➦➩➧ ➱➨➞➡➨➱➨➧➨➦➟ Ù➹ÜÜÜ Ø➹ÜÜÜ Ø➹ÜÜÜ

➨➩➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦ ➤➦➬✃➦➞➟➦

Ú➦ù➢➨✃➦➤✫

➞Ï ➞➩ ➨➩➬➴➮➦ ➟➧➞➧➦➮➦➩➧

➡Ï ➞ ➬➞➟➠ ➡➢➤➥➦➧ ➢➟➨➩➥ ➧➠➦ ➞➤❮➢➟➧➦➤ ➩➦➧ ➨➩➬➴➮➦ ➞❐❐✃➴➞➬➠

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✂✄☎✝✞ ✄✟✄✠✡☛✝☛

☞✌✍✎✏✑ ✒✓

✔☛✕ ☎✖✕ ✄☎☎✄✗✖✕✘ ✙✝✟✄✠ ✄✗✗✞✚✟☎☛ ✞✙ ☎✖✕ ✛✜✄✢✢✞☎☎ ✣✟✟✛ ☎✞ ✗✄✠✗✚✠✄☎✕ ☎✖✕ ✙✞✠✠✞✤✝✟✥ ✦✕✡ ✢✄☎✝✞☛✧

✜✚✢✢✕✟☎ ✢✄☎✝✞

★✗✗✞✚✟☎☛ ✢✕✗✕✝✩✄✪✠✕ ☎✚✢✟✞✩✕✢

★✩✕✢✄✥✕ ✗✞✠✠✕✗☎✝✞✟ ✬✕✢✝✞✘

✭✢✞✙✝☎ ✮✄✢✥✝✟

✯✬✕✢✄☎✝✟✥ ✕✙✙✝✗✝✕✟✗✡ ✢✄☎✝✞

✰✱✲ ✜★✂✂✯✰✰ ✣✳✳ ✴★✵★✳✜✲ ✶✱✲✲✰ ✭✲✂ ✷✸✹ ✺✲✜✲✻✴✲✂ ✼✽✸✷

★✶✶✲✰✶✧ ✼✽✸✾ ✼✽✸✿

✜✚✢✢✕✟☎ ★☛☛✕☎☛✧

✜✄☛✖ ✼✹❀✽✽ ✸✹✸✽✽

✻✄✢✦✕☎✄✪✠✕ ✶✕✗✚✢✝☎✝✕☛ ✸✼✹✽✽✽ ✼❁✹✽✽✽

★✗✗✞✚✟☎☛ ✂✕✗✕✝✩✄✪✠✕ ✸✿✹✷✽✽ ✼✸✹❁✽✽

✣✟✩✕✟☎✞✢✝✕☛ ❁✹❀✽✽ ❂✹✷✽✽

✭✢✕✬✄✝✘ ✲❃✬✕✟☛✕☛ ✸✹✼✽✽ ❁✹❀✽✽

✰✞☎✄✠ ✜✚✢✢✕✟☎ ★☛☛✕☎☛ ✷❄✹✷✽✽ ❁❄✹✷✽✽

❅✝❃✕✘ ★☛☛✕☎☛✧

✵✄✟✘ ✷❁✹✽✽✽ ✷❁✹✽✽✽

✴✚✝✠✘✝✟✥ ✸✽✽✹✽✽✽ ✸✽✽✹✽✽✽

✲❆✚✝✬✮✕✟☎ ❀✽✹✽✽✽ ❀✽✹✽✽✽

✻✄✗✖✝✟✕✢✡ ❁✹✽✽✽ ❁✹✽✽✽

★✗✗❇ ✺✕✬✢✕✗✝✄☎✝✞✟ ❁❁✹✽✽✽ ❂✾✹❁✽✽

✰✞☎✄✠ ❅✝❃✕✘ ★☛☛✕☎☛✧ ✸✼❁✹✽✽✽ ✸✸✼✹❁✽✽

✰✯✰★✵ ★✶✶✲✰✶ ✸❂❀✹✷✽✽ ✸✾✸✹✿✽✽

✵✣★✴✣✵✣✰✣✲✶✧

✜✚✢✢✕✟☎ ✵✝✄✪✝✠✝☎✝✕☛✧

★✗✗✞✚✟☎☛ ✭✄✡✄✪✠✕ ✸❂✹✽✽✽ ✸❁✹✽✽✽

✜✚✢✢❇ ✮✄☎✚✢✝☎✝✕☛ ✞✙ ✵❇✰❇✺✕✪☎ ✸✽✹✽✽✽ ✸✽✹✽✽✽

★✗✗✢✚✕✘ ✲❃✬✕✟☛✕☛ ❀✹✼✽✽ ✸✹❁✽✽

★✘✩✄✟✗✕ ✺✕✬✞☛✝☎☛ ✸✹❂✽✽ ✸✹✿✽✽

✰✞☎✄✠ ✜✚✢✢✕✟☎ ✵✝✄✪✝✠✝☎✝✕☛✧ ✷✸✹✿✽✽ ✼✿✹✷✽✽

✵✞✟✥ ✰✕✢✮ ✵✝✄✪✝✠✝☎✝✕☛

✻✞✢☎✥✄✥✕ ✿✽✹✽✽✽ ✾✽✹✽✽✽

✠✕☛☛ ✜✚✢✢✕✟☎ ✻✄☎✚✢✝☎✝✕☛ ✸✽✹✽✽✽ ✸✽✹✽✽✽

✰✞☎✄✠ ✵✞✟✥ ✰✕✢✮ ✵✝✄✪✝✠✝☎✝✕☛ ✾✽✹✽✽✽ ❂✽✹✽✽✽

✰✯✰★✵ ✵✣★✴✣✵✣✰✣✲✶

✯❈✳✲✂✶ ✲❉✔✣✰❊❋

✜✞✮✮✞✟ ✶☎✞✗✦ ❁✽✹✽✽✽ ❁✽✹✽✽✽

✂✕☎✄✝✟✕✘ ✲✄✢✟✝✟✥☛ ● ✸✼✹❁✽✽

✭✢✞✙✝☎ ☎✖✝☛ ✬✕✢✝✞✘ ✸✼✹❁✽✽ ✼✸✹✽✽✽

✰✯✰★✵ ✯❈✳✲✂✶❋ ✲❉✔✣✰❊ ❂✼✹❁✽✽ ✿✷✹❁✽✽

✰✯✰★✵ ✵✣★✴✣✵✣✰✣✲✶ ❍ ✯❈✳✲✂✶❋ ✲❉✔✣✰❊ ✸❂❀✹✷✽✽ ✸✾✸✹✿✽✽

✰✱✲ ✜★✂✂✯✰✰ ✣✳✳ ✜✯✳✺✲✳✶✲✺ ✣✳✜✯✻✲ ✶✰★✰✲✻✲✳✰

✼✽✸✾ ✼✽✸✿

✰✞☎✄✠ ✢✕✩✕✟✚✕☛ ✼❁✽✹❁✽✽ ✼✾✽✹✿✽✽

✜✞☛☎ ✞✙ ■✞✞✘☛ ✶✞✠✘ ✾✼✹✼✽✽ ✾✷✹❂✽✽

✯✬✕✢✄☎✝✟✥ ✲❃✬✕✟☛✕☛ ❀❁✹✷✽✽ ❁✸✹✽✽✽

✔✟✘✝☛☎✢✝✪✚☎✕✘ ✯✬✕✢✄☎✝✟✥ ✲❃✬✕✟☛✕☛ ❄✷✹❁✽✽ ❄❀✹✸✽✽

✣✟✗✞✮✕ ✪✕✙✞✢✕ ❅✝❃✕✘ ✜✖✄✢✥✕☛ ✷❄✹❁✽✽ ❁✼✹✸✽✽

❅✝❃✕✘ ✜✖✄✢✥✕☛ ✕❃✗✠❇ ✺✕✬✢✕✗✝✄☎✝✞✟ ❄✹✸✽✽ ❄✹❁✽✽

✺✕✬✢✕✗✝✄☎✝✞✟ ✸✼✹❁✽✽ ✸✼✹❁✽✽

✣✟✗✞✮✕ ✰✄❃ ❁✹❀✽✽ ❄✹✸✽✽

✳✕☎ ✣✟✗✞✮✕ ✸✼✹❁✽✽ ✼✸✹✽✽✽

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❏❑▲▼◆❖P▲▼◗ ▼❘▼❖❙❚❯▼❯

❱❲❳❨❩❬❭❳❨❪ ❫❴ ❵ ❛❜❨ ❝❭❬❞ ❡❭❲❨ ❢❣❳❨❤✐ ❡❣❲❪❣❲✐ ❝❭❩❨ ❴ ❣❥ ❦

❧♠ ♥❯▼ ▲♦▼ ♣❚❑Pq P❙❙rs❑▲❯ r♣ ▲♦▼ tP❖✉ ✈P❑▼ ✇r▲▼q ✈r❑◗r❑ ▲r ①❖r②❚◗▼ ▲♦▼ ♣rqqr③❚❑◆ ❖P▲❚r P❑Pq④❯❚❯⑤

P♠⑥ ⑦Pq❙sqP▲▼ ▲♦▼ ⑧❙❙rs❑▲❯ ⑨▼❙▼❚②P⑩q▼ ❶s❖❑r②▼❖❷ ⑧②▼❖P◆▼ ⑦rqq▼❙▲❚r❑ t▼❖❚r◗ P❑◗ ▲♦▼ ❏❑②▼❑▲r❖④

❶s❖❑r②▼❖ ❸♣r❖ Pqq ④▼P❖❯ ①r❯❯❚⑩q▼⑥♠

❶♦▼ ❹▼❑▼❖Pq ❺P❑P◆▼❖❯ ◆rPq ♣r❖ ❻❼❧❽ ③P❯ ▲r ❚❾①❖r②▼ ▲♦▼ ❙rqq▼❙▲❚r❑ r♣ ◗▼⑩▲r❖❯ P❑◗ ▲r ❚❾①❖r②▼

▲♦▼ ❚❑②▼❑▲r❖④ ❯❚▲sP▲❚r❑♠ ❿❚◗ ♦▼ ❯s❙❙▼▼◗ ❚❑ ♦❚❯ ◆rPq❯➀ tq▼P❯▼ ❙r❾❾▼❑▲ r❑ ▲♦▼ ◗▼②▼qr①❾▼❑▲ ❚❑

▲♦r❯▼ P❖▼P❯♠

⑩♠⑥❶♦▼ ➁t❚❙❙P◗❚qq④➁ ❷ P ♦r▲▼q r♣ ❙r❾①P❖P⑩q▼ r①▼❖P▲❚r❑ P❑◗ ❯❚➂▼ ▲r ▲♦▼ tP❖✉ ✈P❑▼ ✇r▲▼q ❚❯ r③❑▼◗ ⑩④ ▲♦▼

❯P❾▼ ◆❖rs① r♣ ❚❑②▼❯▲r❖❯♠ ❏▲ ♦P◗ ▲♦▼ ♣rqqr③❚❑◆ ✉▼④ ❖P▲❚r❯⑤

❻❼❧➃ ❻❼❧➄

❿▼⑩▲ ▼➅s❚▲④ ❖P▲❚r ❼♠❽❼ ❼♠❽➆

⑨▼▲s❖❑ r❑ r③❑▼❖❯ ▼➅s❚▲④ ❧➄♠❼➇ ❧➄♠➆➇

⑨▼▲s❖❑ r❑ P❯❯▼▲❯ ➄♠❼➇ ➈♠❼➇

t❖r♣❚▲ ❾P❖◆❚❑ ➆♠❼➇ ➆♠❽➇

➉①▼❖P▲❚❑◆ ▼♣♣❚❙❚▼❑❙④ ❖P▲❚r ➊❻♠❼➇ ➊❼♠❼➇

⑦Pq❙sqP▲▼ ▲♦r❯▼ ❖P▲❚r❯ ♣r❖ ▲♦▼ tP❖✉ ✈P❑▼ ✇r▲▼ q♣r❖ ⑩r▲♦ ④▼P❖❯ P❯ ③▼qq♠

⑧❯❯▼❯❯ ▲♦▼ ➉①▼❖P▲❚r❑❯ ❺P❑P◆▼❖❯ ①▼❖♣r❖❾P❑❙▼ ❸♣❖r❾ P❑ ➉③❑▼❖➋❯ ①r❚❑▲ r♣ ②❚▼③⑥ ⑩④ ❙r❾①P❖❚❯r❑

▲r ▲♦▼ t❚❙❙P◗❚qq④➋❯ ❖▼❯sq▲❯ ♣r❖ ▲♦▼❯▼ ❖P▲❚r❯♠

❻♠ ❶♦▼ ❺P❑P◆▼❾▼❑▲ ▲▼P❾ r♣ ▲♦▼ tP❖✉ ✈P❑▼ ✇r▲▼q ❚❯ P⑩rs▲ ▲r ①❖▼①P❖▼ ▲♦▼ r①▼❖P▲❚r❑❯ ⑩s◗◆▼▲ ♣r❖ ▲♦▼

④▼P❖ ▲r ❙r❾▼ ⑩P❯▼◗ r❑ ▲♦▼ ♣rqqr③❚❑◆ P❯❯s❾①▲❚r❑❯⑤

➉①▼❑❚❑◆ ◗P④❯ ➌❽➆

⑧②P❚qP⑩q▼ ❯❚❑◆q▼ ❖rr❾❯ ①▼❖ ◗P④ ➈➆

⑧②P❚qP⑩q▼ ◗rs⑩q▼ ❖rr❾❯ ①▼❖ ◗P④ ❧❻➌

➍❚❑◆q▼ ❖rr❾❯ r❙❙s①P❑❙④ ➊➆➇

❿rs⑩q▼ ❖rr❾❯ r❙❙s①P❑❙④ ➄➆➇

❺sq▲❚①q▼ r❙❙s①P❑❙④ ①▼❖ ❿➉♥➎✈➏ ❖rr❾ ❧♠➈❼

ts⑩q❚❯♦▼◗ ①❖❚❙▼ ①▼❖ ❖rr❾ ➐ ❯❚❑◆q▼ ❧➆❼ ➑ ❸❚❑❙q♠ ❧➃♠➆➇ ➒⑧❶⑥

ts⑩q❚❯♦▼◗ ①❖❚❙▼ ①▼❖ ❖rr❾ ➐ ◗rs⑩q▼ ❧➃➆ ➑ ❸❚❑❙q♠ ❧➃♠➆➇ ➒⑧❶⑥

❿❚❯❙rs❑▲ ♣P❙▲r❖ ➐ ❯❚❑◆q▼ ❖rr❾❯ ➌➌♠❼➇

❿❚❯❙rs❑▲ ♣P❙▲r❖ ➐ ◗rs⑩q▼ ❖rr❾❯ ❻➆♠❼➇

tP④❖rqq ❖P▲❚r ❻❼♠❼➇

➉▲♦▼❖ ▼❘①▼❑❯▼❯ ①▼❖ r❙❙s①❚▼◗ ❖rr❾ ❧❼♠➆❼ ➑

tq▼P❯▼ ♦▼q① ▲♦▼ ❖rr❾❯ ◗❚②❚❯❚r❑ ▲▼P❾ ▲r ①❖▼①P❖▼ ▲♦▼ ♣rqqr③❚❑◆⑤

P♠ ⑧ ❙r❑◗▼❑❯▼◗ ❖rr❾❯ ◗▼①P❖▲❾▼❑▲ ⑩s◗◆▼▲

⑩♠ ❿▼▲▼❖❾❚❑▼ ▲♦▼ P②▼❖P◆▼ ◗P❚q④ ❖P▲▼

❙♠ ⑦Pq❙sqP▲▼ ▲♦▼ r❙❙s①P❑❙④ ①▼❖❙▼❑▲P◆▼ ♣r❖ ▲♦▼ ①▼❖❚r◗

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❏❑▲▼◆❖P▲▼◗ ▼❘▼❖❙❚❯▼❯

❱❲❳❨❩❬❭❳❨❪ ❫❴ ❵ ❛❜❨ ❝❭❬❞ ❡❭❲❨ ❢❣❳❨❤✐ ❡❣❲❪❣❲✐ ❝❭❩❨ ➓ ❣❥ ❦

➌♠ ➔r❖ ➔ → ➎ ▲♦▼ ♣rqqr③❚❑◆ ♦P❯ ⑩▼▼❑ P❯❯s❾▼◗⑤

➎❖▼P✉♣P❯▲ ❸❧❻❼ ❯▼P▲❯⑥⑤

➉①▼❑❚❑◆ ◗P④❯ ➌❽➆ ◗P④❯ ①▼❖ ④▼P❖

➍▼P▲ ▲s❖❑r②▼❖ ❧♠❧❼

➍▲P❑◗P❖◗ ①❖❚❙▼ ①▼❖ ①▼❖❯r❑ ❧➊♠❼❼ ➑ ❸❚❑❙q♠ ❧❼➇ ➒⑧❶⑥

⑨▼❯▲Ps❖P❑▲ ❸❻❼❼ ❯▼P▲❯⑥⑤

➉①▼❑❚❑◆ ◗P④❯ ➌❼❼ ◗P④❯ ①▼❖ ④▼P❖

➍▼P▲ ▲s❖❑r②▼❖ ❧♠➆❼

⑧②▼❖P◆▼ ❙r❑❯s❾①▲❚r❑ ①▼❖ ❙s❯▲r❾▼❖ ❧➄♠❻➆ ➑ ❸❑▼▲ r♣ ➒⑧❶⑥

⑦r❯▲ r♣ ♣rr◗ P❑◗ ⑩▼②▼❖P◆▼ ❚❯ ▼❯▲❚❾P▲▼◗ P▲ ➌❼➇ r♣ ❖▼②▼❑s▼♠

❶♦▼ tP❖✉ ✈P❑▼ ✇r▲▼q ♦P❯ ❻➈ ❯▲P♣♣ ③r❖✉❚❑◆ ❚❑ ▲♦▼ ➔ → ➎ ◗▼①P❖▲❾▼❑▲♠ ❶♦▼ ▲r▲Pq ◆❖r❯❯ ❯PqP❖❚▼❯ → ③P◆▼❯

P❾rs❑▲ ▲r ➑ ➊❽➊❷❼❼❼ ①♠P♠♠ ➏❾①qr④▼▼❯ ❙r❑▲❖❚⑩s▲❚r❑ ▲r③P❖◗❯ ❑P▲❚r❑Pq ❚❑❯s❖P❑❙▼ P❑◗ ▲P❘ ❚❯ ➌➆➇❷

▼❾①qr④▼❖❯ ❙r❑▲❖❚⑩s▲❚r❑ ▲r③P❖◗❯ ❑P▲❚r❑Pq ❚❑❯s❖P❑❙▼ P❑◗ ▲P❘ ❚❯ ➌❼➇♠ ➎r▲♦ ❙r❑▲❖❚⑩s▲❚r❑❯ P❖▼

P❙❙rs❑▲P⑩q▼ ♣❖r❾ ◆❖r❯❯ ❯PqP❖❚▼❯ → ③P◆▼❯♠

➉▲♦▼❖ ▼❘①▼❑❯▼❯ ➔ → ➎ P❖▼ ▼❯▲❚❾P▲▼◗ ▲r ⑩▼ ❧❧➇ r♣ ❖▼②▼❑s▼♠

tq▼P❯▼ ①❖r②❚◗▼ ▲♦▼ ♣rqqr③❚❑◆⑤

P♠ ⑧ ❙r❑◗▼❑❯▼◗ ➔ → ➎ ❿▼①P❖▲❾▼❑▲ ⑩s◗◆▼▲

⑩♠ ❿▼▲▼❖❾❚❑▼ ▲♦▼ ❑r♠ r♣ ❙r②▼❖❯ ❯▼❖②▼◗ ①♠P♠

❙♠ ⑦Pq❙sqP▲▼ ➔ → ➎ ◗▼①P❖▲❾▼❑▲ ①❖r♣❚▲ ❾P❖◆❚❑ ♣r❖ ▲♦▼ ①▼❖❚r◗

Page 41: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

❏❑▲▼◆❖P▲▼◗ ▼❘▼❖❙❚❯▼❯

❱❲❳❨❩❬❭❳❨❪ ❫❴ ❵ ❛❜❨ ❝❭❬❞ ❡❭❲❨ ❢❣❳❨❤✐ ❡❣❲❪❣❲✐ ❝❭❩❨ ❦ ❣❥ ❦

❶✇➏ t⑧⑨➣ ✈⑧↔➏ ✇➉❶➏✈⑤ ➎⑧✈⑧↔⑦➏ ➍✇➏➏❶➍

⑧➍➍➏❶➍⑤ ❻❼❧❽ ❻❼❧➃ ❻❼❧➄

⑦s❖❖▼❑▲ ⑧❯❯▼▲❯⑤

⑦P❯♦ ❧❻❷❼❼❼ ➆❷❼❼❼ ❧❷❼❼❼

❺P❖✉▼▲P⑩q▼ ➍▼❙s❖❚▲❚▼❯ ➌➌❷❼❼❼ ❧➄❷❼❼❼ ❧❻❷❼❼❼

⑧❙❙rs❑▲❯ ⑨▼❙▼❚②P⑩q▼ ➈➄➆❷❼❼❼ ❧❷❧➊➌❷❼❼❼ ❧❷❼➈❻❷❼❼❼

❏❑②▼❑▲r❖❚▼❯ ❧➌❻❷❼❼❼ ❧➊❽❷❼❼❼ ❧❻➆❷❼❼❼

t❖▼①P❚◗ ➏❘①▼❑❯▼❯ ❽❽❷❼❼❼ ➄➆❷❼❼❼ ➃❻❷❼❼❼

❶r▲Pq ⑦s❖❖▼❑▲ ⑧❯❯▼▲❯ ❧❷❻❻➄❷❼❼❼ ❧❷➌➈➃❷❼❼❼ ❧❷➌❼❻❷❼❼❼

❏❑②▼❯▲❾▼❑▲❯ ❻❼➆❷❼❼❼ ❧❼❼❷❼❼❼ ❧❼❼❷❼❼❼

➔❚❘▼◗ ⑧❯❯▼▲❯⑤

✈P❑◗ ❧❷❼❼❼❷❼❼❼ ❧❷➆❼❼❷❼❼❼ ❧❷➆❼❼❷❼❼❼

➎s❚q◗❚❑◆ ➌❷➆❼❼❷❼❼❼ ➌❷❽❼❼❷❼❼❼ ➌❷❽❼❼❷❼❼❼

➔➔ → ➏ ❻❷❼❼❼❷❼❼❼ ❻❷❻❼❼❷❼❼❼ ❻❷➊❼❼❷❼❼❼

⑦P❖❯ ❧➆❼❷❼❼❼ ❧➄❼❷❼❼❼ ❧➄❼❷❼❼❼

⑧❙❙♠ ❿▼①❖▼❙❚P▲❚r❑ ❧❷➊➃❼❷❼❼❼ ❻❷❼❼❼❷❼❼❼ ❻❷➆➆➄❷❼❼❼

❶r▲Pq ➔❚❘▼◗ ⑧❯❯▼▲❯⑤ ➆❷❧➄❼❷❼❼❼ ➆❷➊➄❼❷❼❼❼ ➆❷❧❻❻❷❼❼❼

➉▲♦▼❖ ⑧❯❯▼▲❯ ➆❼❷❼❼❼ ❽➆❷❼❼❼ ❽➃❷❼❼❼

❶➉❶⑧✈ ⑧➍➍➏❶➍ ❽❷❽❽➌❷❼❼❼ ➃❷❼➊❻❷❼❼❼ ❽❷➆➈❧❷❼❼❼

✈❏⑧➎❏✈❏❶❏➏➍⑤

⑦s❖❖▼❑▲ ✈❚P⑩❚q❚▲❚▼❯⑤

⑧❙❙rs❑▲❯ tP④P⑩q▼ ➄➊➌❷❼❼❼ ➈➄➈❷❼❼❼ ➈➆➄❷❼❼❼

➉②▼❖◗❖P♣▲ ➐ ❻➆❼❷❼❼❼ ➐

⑦s❖❖♠ ❾P▲s❖❚▲❚▼❯ r♣ ✈♠❶♠❿▼⑩▲ ➊❼❼❷❼❼❼ ➊❼❼❷❼❼❼ ➊❼❼❷❼❼❼

⑧❙❙❖s▼◗ ➏❘①▼❑❯▼❯ ❧➊❻❷❼❼❼ ❧❻➆❷❼❼❼ ❧➊❧❷❼❼❼

❿❚②❚◗▼❑◗❯ ①P④P⑩q▼ ➆➃❷❼❼❼ ❽❻❷❼❼❼ ➃➌❷❼❼❼

❶r▲Pq ⑦s❖❖▼❑▲ ✈❚P⑩❚q❚▲❚▼❯⑤ ❧❷➊➊❻❷❼❼❼ ❧❷➄❻❽❷❼❼❼ ❧❷➆➃❻❷❼❼❼

✈r❑◆ ❶▼❖❾ ✈❚P⑩❚q❚▲❚▼❯

❺r❖▲◆P◆▼ ❻❷❼❼❼❷❼❼❼ ❧❷❽❼❼❷❼❼❼ ❧❷❻❼❼❷❼❼❼

q▼❯❯ ⑦s❖❖▼❑▲ ❺P▲s❖❚▲❚▼❯ ➊❼❼❷❼❼❼ ➊❼❼❷❼❼❼ ➊❼❼❷❼❼❼

❶r▲Pq ✈r❑◆ ❶▼❖❾ ✈❚P⑩❚q❚▲❚▼❯ ❧❷❽❼❼❷❼❼❼ ❧❷❻❼❼❷❼❼❼ ➄❼❼❷❼❼❼

❶➉❶⑧✈ ✈❏⑧➎❏✈❏❶❏➏➍ ➌❷❼➊❻❷❼❼❼ ➌❷❼❻❽❷❼❼❼ ❻❷➌➃❻❷❼❼❼

➉↕↔➏⑨➍ ➏➙♥❏❶➛➋

⑦r❾❾r❑ ➍▲r❙✉ ➌❷❼❼❼❷❼❼❼ ➌❷❼❼❼❷❼❼❼ ➌❷❼❼❼❷❼❼❼

⑧◗◗❚▲❚r❑Pq tP❚◗➐❏❑ ⑦P①❚▲Pq ➐ ➐ ➐

⑨▼▲P❚❑▼◗ ➏P❖❑❚❑◆❯ ➐ ➌❻❧❷❼❼❼ ➊❧❽❷❼❼❼

t❖r♣❚▲ ▲♦❚❯ ①▼❖❚r◗ ❽❻❧❷❼❼❼ ❽➈➆❷❼❼❼ ➄❼➌❷❼❼❼

❶➉❶⑧✈ ➉↕↔➏⑨➍➋ ➏➙♥❏❶➛ ➌❷❽❻❧❷❼❼❼ ➊❷❼❧❽❷❼❼❼ ➊❷❻❧➈❷❼❼❼

❶➉❶⑧✈ ✈❏⑧➎❏✈❏❶❏➏➍ → ➉↕↔➏⑨➍➋ ➏➙♥❏❶➛ ❽❷❽❽➌❷❼❼❼ ➃❷❼➊❻❷❼❼❼ ❽❷➆➈❧❷❼❼❼

❶✇➏ t⑧⑨➣ ✈⑧↔➏ ✇➉❶➏✈⑤ ⑦➉↔❿➏↔➍➏❿ ❏↔⑦➉❺➏ ➍❶⑧❶➏❺➏↔❶➍

❻❼❧❽ ❻❼❧➃ ❻❼❧➄

❶r▲Pq ❖▼②▼❑s▼❯ ➃❷❽❼❧❷❼❼❼ ➃❷➈❼➆❷❼❼❼ ➄❷➌❼❼❷❼❼❼

⑦r❯▲ r♣ ❹rr◗❯ ➍rq◗ ❽❼➄❷❼❼❼ ❽❧➃❷❼❼❼ ❽➊❼❷❼❼❼

➉①▼❖P▲❚❑◆ ➏❘①▼❑❯▼❯ ➌❷❼➊❼❷❼❼❼ ➌❷❼➄➌❷❼❼❼ ➌❷❧➆➊❷❼❼❼

♥❑◗❚❯▲❖❚⑩s▲▼◗ ➉①▼❖P▲❚❑◆ ➏❘①▼❑❯▼❯ ❧❷❧➊❼❷❼❼❼ ❧❷❧➃❼❷❼❼❼ ❧❷❻❼➊❷❼❼❼

❹➉t ❻❷➄❧➌❷❼❼❼ ➌❷❼➌➆❷❼❼❼ ➌❷➌❼❻❷❼❼❼

➔❚❘▼◗ ⑦♦P❖◆▼❯ ▼❘❙q♠ ❿▼①❖▼❙❚P▲❚r❑ ❧❷➌❽➄❷❼❼❼ ❧❷➊➌❽❷❼❼❼ ❧❷➆❼➄❷❼❼❼

❿▼①❖▼❙❚P▲❚r❑ ➊➈❼❷❼❼❼ ➆➌❼❷❼❼❼ ➆➆➄❷❼❼❼

❏❑❙r❾▼ ❶P❘ ➌➌➊❷❼❼❼ ➌➃➊❷❼❼❼ ➊➌➌❷❼❼❼

↔▼▲ ❏❑❙r❾▼ ❽❻❧❷❼❼❼ ❽➈➆❷❼❼❼ ➄❼➌❷❼❼❼

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❏❑▲▼◆❖P▲▼◗ ▼❘▼❖❙❚❯▼❯

❱❲❳❨❩❬❭❳❨❪ ❫➓ ❵ ❛❜❨ ➜❭❳❨➝❭➞ ❢❣❳❨❤

❧♠ ❺P❘ ➣q❚❑◆▼❖ ❚❯ ❙r❑▲▼❾①qP▲❚❑◆ ▲r ▲P✉▼ s① P q▼P❯▼ ♣r❖ ▲♦▼ ➁❹P▲▼③P④ ✇r▲▼q➁♠ ✇▼ ♦P❯

❙rqq▼❙▲▼◗ ▲♦▼ ♣rqqr③❚❑◆ ◗P▲P⑤

⑨▼②▼❑s▼ ❚❑♣r❖❾P▲❚r❑⑤

↔r♠ r♣ ❖rr❾❯ P②P❚qP⑩q▼ ①▼❖ ◗P④ ❻➆

➉①▼❑❚❑◆ ◗P④❯ ❯s❾❾▼❖ ❯▼P❯r❑ ❧➆❼

➉①▼❑❚❑◆ ◗P④❯ ③❚❑▲▼❖ ❯▼P❯r❑ ❽❼

❿P④❯ ❙qr❯▼◗ ①▼❖ ④▼P❖ ❧➆➆

➉❙❙s①P❑❙④ ➇ ❯s❾❾▼❖ ➃➆♠❼➇

➉❙❙s①P❑❙④ ➇ ③❚❑▲▼❖ ❽➆♠❼➇

❺sq▲❚①q▼ r❙❙♠➇ ①▼❖ ❖rr❾➐❯s❾❾▼❖ ❧♠➄

❺sq▲❚①q▼ r❙❙♠➇ ①▼❖ ❖rr❾➐③❚❑▲▼❖ ❧♠❻

ts⑩q❚❯♦▼◗ ①❖❚❙▼ ❸❚❑❙q♠ ❧❼➇➒⑧❶⑥ ❽➆♠❼❼

⑧②▼❖P◆▼ ◗❚❯❙rs❑▲ ❯s❾❾▼❖ ❻❼♠❼➇

⑧②▼❖P◆▼ ◗❚❯❙rs❑▲ ③❚❑▲▼❖ ➌➆♠❼➇

➄❼➇ r♣ Pqq ❖rr❾❯ ❙s❯▲r❾▼❖❯ ♦P②▼ ⑩❖▼P✉♣P❯▲

➎❖▼P✉♣P❯▲ ❙♦P❖◆▼ ❸❚❑❙q♠ ❧❼➇ ➒⑧❶⑥ ❧❻♠❼❼

⑦r❯▲ ❚❑♣r❖❾P▲❚r❑⑤

❶r▲Pq ①P④❖rqq ➌➄❷❼❼❼

⑨rr❾❯ r▲♦▼❖ ▼❘①▼❑❯▼❯ ❧➆♠❼➇

➔ → ➎ ⑦r❯▲ ➇ ❻➆♠❼➇

➔ → ➎ ➉▲♦▼❖ ▼❘①▼❑❯▼❯ ❧❻♠❼➇

➉▲♦▼❖ ❙r❑▲❖rqqP⑩q▼ ▼❘①▼❑❯▼❯ P❯ ➇

r♣ ❖▼②▼❑s▼ ➌❼♠❼➇

⑨▼❑▲ ➌❽❷❼❼❼

❶P❘ ❖P▲▼ ➌❼♠❼➇

tq▼P❯▼ ①❖r◗s❙▼ P ⑩s◗◆▼▲ ♣r❖ ▲♦▼ ④▼P❖♠ ♥❯▼ ▲♦▼ ♥➍⑧✈❏ ♣r❖❾P▲♠

❻♠ ❺P❘ Pq❯r r③❑❯ P❑r▲♦▼❖ ⑩s❯❚❑▼❯❯♠ ✇▼ r①▼❖P▲▼❯ P❑ ❚❙▼➐❙❖▼P❾ ①P❖qrs❖ P❑◗ ③rsq◗

q❚✉▼ ④rs ▲r P❑Pq④❯▼ ▲♦▼ r②▼❖Pqq ❯▲P♣♣❚❑◆ ❯❚▲sP▲❚r❑♠

✇▼ ①❖r②❚◗▼❯ ④rs ③❚▲♦ ▲♦▼ ♣rqqr③❚❑◆ ◗P▲P⑤

➉①▼❑ ◗P❚q④ ♣❖r❾ ⑧①❖❚q ➌❼ ➐ ➍▼①▲♠ ➌❼ ❸❧➆➊ ◗P④❯⑥

➉①▼❑❚❑◆ ▲❚❾▼ ♣❖r❾ ❧❧♠❼❼ ➐ ❧➈♠❼❼

⑧②▼❖P◆▼ ❑r♠ r♣ ❙s❯▲r❾▼❖❯ ①▼❖ ◗P④ ❧❷➊➊❼

➍▲P♣♣ ❚❯ ♦❚❖▼◗ ♣r❖ ▲♦▼ ❧➆➊ ◗P④❯ ①▼❖❚r◗ r❑q④

➉❑▼ ❯▲P♣♣ ❾▼❾⑩▼❖ ❙P❑ ◗▼Pq ③❚▲♦ ❧❻❼ ❙s❯▲r❾▼❖❯ P ◗P④

↕r❖✉❚❑◆ ❯❚▲sP▲❚r❑⑤

↕r❖✉❚❑◆ ♦rs❖❯ ①▼❖ ◗P④ ➄

↕r❖✉❚❑◆ ◗P④❯ ①▼❖ ③▼▼✉ ➆

➒P❙P▲❚r❑ ❸◗P④❯⑥ ➄

ts⑩q❚❙ ♦rq❚◗P④❯ ❻

⑧❯❯s❾▼◗ r▲♦▼❖ P⑩❯▼❑❙▼❯ ➌

tq▼P❯▼ ❙Pq❙sqP▲▼ ⑤ P♠ ❶♦▼ ③r❖✉❚❑◆ ♣P❙▲r❖

⑩♠ ❶♦▼ ↔r♠ r♣ ▼❾①qr④▼▼❯ r❑ ◗s▲④

❙♠ ❶♦▼ ❑r♠ r♣ ▼❾①qr④▼▼❯ r❑ ▲♦▼ ①P④❖rqq

➌♠ ⑧◆P❚❑ ❺P❘♠ ✇▼ ❚❯ ❙s❖❖▼❑▲q④ ❚❑②▼❯▲❚◆P▲❚❑◆ ▲r ❚❑②▼❯▲ ❚❑▲r P ❯r♣▲➐❚❙▼ ❾P❙♦❚❑▼♠

✇▼ ❖▼❙✉r❑❯ ♦▼ ❙rsq◗ ❯▼qq P①①❖r❘❚❾P▲▼q④ ➟ ❻❼❷❼❼❼ ③r❖▲♦ r♣ ➍r♣▲➐❏❙▼ ①▼❖ ④▼P❖♠

❶♦▼ ❙r❯▲ r♣ ♣rr◗ ③rsq◗ ⑩▼ ❧➆➇❷ qP⑩rs❖ ❙r❯▲ ❧❼➇ P❑◗ r▲♦▼❖ ❙r❯▲❯ ❧❼➇♠ ❶♦▼

❾P❙♦❚❑▼ ❙r❯▲❯ ➟ ➆❼❷❼❼❼ P❑◗ ③❚qq ❑r▲ ♦P②▼ P ❖▼❯Pq▼ ②Pqs▼ P♣▲▼❖ ❚▲❯ ➆➐④▼P❖ q❚♣▼♠

⑧❯❯s❾▼ P ◗❚❯❙rs❑▲ ❖P▲▼ r♣ ➄➇ ▲r ❙Pq❙sqP▲▼ ▲♦▼ ↔t➒♠

➔r❖ ❯❚❾①q❚❙❚▲④ ④rs ❯♦rsq◗ ◗❚❯❖▼◆P❖◗ ▲P❘♠

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❏❑▲▼◆❖P▲▼◗ ▼❘▼❖❙❚❯▼❯

❱❲❳❨❩❬❭❳❨❪ ❫❦ ❵ ➠➡❭➢❭❩❨➤➠✐ ❝❭❩❨ ❴ ❣❥ ➓

❏❑▲❖r◗s❙▲❚r❑⑤

➁➍P②P◆▼❯➁ ❚❯ P ❻➆➈ ❖rr❾ ♦r▲▼q ❚❑ ✈r❑◗r❑♠ ❏▲ ♣▼P▲s❖▼❯ ➊➥ P❙❙r❾❾r◗P▲❚r❑❷ r❑▼ ❖▼❯▲Ps❖P❑▲ P❑◗ P ①s⑩

①r①sqP❖ ③❚▲♦ qr❙Pq❯♠ ➛rs P❖▼ ▲r P❯❯❚❯▲ ➦P❙✉❚▼ ❹P◗▼❖❷ ▲♦▼ ❾P❑P◆▼❖ ❚❑ ①❖▼①P❖P▲❚r❑ r♣ ▲♦▼ ♣❚❖❯▲ P❖▼ ◗❖P♣▲

r♣ ❑▼❘▲ ④▼P❖❯ ❸❻❼❧➊⑥ ❖▼②▼❑s▼ ⑩s◗◆▼▲♠

➔r❖ ❯❚❾①q❚❙❚▲④ P❯❯s❾▼ P ➌❽➊ ◗P④➐④▼P❖♠ ➦P❑sP❖④ ❧ ❚❯ P ❺r❑◗P④♠

⑨rr❾❯⑤ ⑦s❯▲r❾▼❖❯ P❖▼ ◆❖rs①▼◗ ❚❑▲r ▲♦❖▼▼ ◗❚♣♣▼❖▼❑▲ ❯▼◆❾▼❑▲❯⑤ ➎s❯❚❑▼❯❯ ❶❖P②▼qq▼❖❯❷ ⑧❚❖q❚❑▼ ➍▲P♣♣ P❑◗

✈▼❚❯s❖▼ ❶❖P②▼qq▼❖❯♠

➦P❙✉❚▼ ▼❘①▼❙▲❯ P ❾❚❑r❖ ◗▼❙q❚❑▼ ❚❑ ⑩s❯❚❑▼❯❯ ▲❖P②▼qq▼❖❯ ♣r❖ ❑▼❘▲ ④▼P❖♠ ❶♦▼ ❑r♠

r♣ r❙❙s①❚▼◗ ❖rr❾❯ ▲♦❚❯ ④▼P❖ ❚❯ ▼❘①▼❙▲▼◗ ▲r ⑩▼ ❻❼❷❼❼❼♠ ➔r❖ ❑▼❘▲ ④▼P❖ P❯❯s❾▼

❧➈❷➆❼❼ ❖rr❾ ❑❚◆♦▲❯♠ ❶♦▼ ▼❘①▼❙▲▼◗ q▼②▼q r♣ ❾sq▲❚①q▼ r❙❙s①P❑❙④ ❚❯ ❧♠❻

❶♦▼ r♣♣▼❖▼◗ ❖P▲▼ ❚❯ ➑➄➆♠❼❼ ❸❚❑❙qs❯❚②▼ r♣ ❧➃❷➆➇ ➒⑧❶⑥♠ ❶♦▼ ▼❘①▼❙▲▼◗

◆▼❑▼❖Pq ◗❚❯❙rs❑▲ q▼②▼q ❚❯ ❧➆➇♠

➔r❖ ❑▼❘▲ ④▼P❖ ➦P❙✉❚▼ ♦P❯ ❯❚◆❑▼◗ P ❙r❑▲❖P❙▲❯ ③❚▲♦ ➌ ❾P➧r❖ P❚❖q❚❑▼❯⑤

➨⑧q❚▲Pq❚P ⑩s④❯ ❧➆ ❖rr❾❯ ①▼❖ ◗P④❷ ♣r❖ P ❖P▲▼ r♣ ➑➌➆♠❼❼

➨ ♥❑❚▲▼◗ ⑧❚❖q❚❑▼❯ ♦P❯ ❯❚◆❑▼◗ ♣r❖ ❧➄ ❖rr❾❯ ❺r❑◗P④ ▲r ➔❖❚◗P④ ❸➊ ❑❚◆♦▲❯⑥

①▼❖ ③▼▼✉ ♣r❖ ▲♦▼ ③♦rq▼ ④▼P❖ P❑◗ ①P④❯ ➑➊❻♠❼❼ ①▼❖ ❑❚◆♦▲♠

➨ ➍❚❑◆P①r❖▼ ⑧❚❖q❚❑▼❯ ♦P❯ P◆❖▼▼◗ r❑ ❧❻ ❖rr❾❯ ①▼❖ ◗P④ P❖❖❚②❚❑◆ ❶s▼❯◗P④

q▼P②❚❑◆ ➍s❑◗P④ ❸➆ ❑❚◆♦▲❯⑥♠ ❶♦❚❯ P◆❖▼▼❾▼❑▲ ♦P❯ ⑩▼▼❑ ❯❚◆❑▼◗ ♣r❖ ▲♦▼ ①▼❖❚r◗

➦P❑sP❖④ ▲r ➍▼①▲▼❾⑩▼❖ ❸➌➈ ③▼▼✉❯⑥♠ ❶♦▼ ❖P▲▼ P◆❖▼▼◗ r❑ ❚❯ ➑➊➊♠❼❼

⑧qq P❚❖q❚❑▼ ❯▲P♣♣ ③❚qq ⑩▼ Pqqr❙P▲▼◗ ❚❑ ◗rs⑩q▼ ❖rr❾❯ ➐ ♦r③▼②▼❖❷ ▲♦▼④ P❖▼ Pqq

❯❚❑◆q▼ s❯▼♠

❶♦▼ ❖rr❾ ❖P▲▼❯ ❚❑ ▲♦❚❯ ❯▼◆❾▼❑▲ P❖▼ ➅sr▲▼◗ ❑▼▲ r♣ ➒⑧❶♠

✈▼❚❯s❖▼ ❶❖P②▼qq▼❖❯ P❖▼ ❯①q❚▲ ❚❑▲r ❶rs❖ ❹❖rs①❯ P❑◗ ❏❑◗❚②❚◗sPq ❶❖P②▼qq▼❖❯♠

⑧❙❙r❖◗❚❑◆ ▲r ▲♦▼ ⑩rr✉❚❑◆ ❯❚▲sP▲❚r❑ ▲♦❚❯ ④▼P❖➋❯ ❖▼❯sq▲ r♣ ❻❽❷❼❼❼ ❖rr❾❯ ♣r❖ ▲rs❖

◆❖rs①❯ ③❚qq ⑩▼ ▼❘❙▼▼◗▼◗ ⑩④ ➆➇♠ ➔r❖ ❏❑◗❚②❚◗sPq ❶❖P②▼qq▼❖❯ ❯r❾▼ ❧➆ ❖rr❾❯ ◗s❖❚❑◆

▲♦▼ ③▼▼✉ ❸❺r❑◗P④ ➐ ➔❖❚◗P④❷ ➊ ❑❚◆♦▲❯⑥ P❑◗ ➌➆ ❖rr❾❯ ◗s❖❚❑◆ ③▼▼✉▼❑◗❯

❸➍P▲s❖◗P④ ➐ ❺r❑◗P④❷ ➌ ❑❚◆♦▲❯⑥ ❙P❑ ⑩▼ ▼❘①▼❙▲▼◗♠

❶♦▼ ❾sq▲❚①q▼ r❙❙s①P❑❙④ ❚❑ ▲♦❚❯ ❯▼◆❾▼❑▲ ③❚qq ⑩▼ ❧♠➄♠❶♦▼ ❖P▲▼ ❚❯ ➑➌➆♠❼❼ ❸❑▼▲⑥

❧♠ tq▼P❯▼ ❙r❾①q▼▲▼ ▲♦▼ P▲▲P❙♦▼◗ ♣r❖❾⑤ ⑨rr❾❯ ➍▲P▲❚❯▲❚❙❯ ♣r❖ ❑▼❘▲ ④▼P❖♠

⑨rr❾❯ ❯▲P▲❚❯▲❚❙❯

➉❙❙s①❚▼◗ ➎s❯❚❑▼❯❯ ↔▼▲ ↔r♠r♣

❖rr❾❯ ❺❚❘ ➇ ❖P▲▼ ⑨▼②▼❑s▼ ❹s▼❯▲❯

➎s❯❚❑▼❯❯ ▲❖P②▼qq▼❖❯

⑧❚❖q❚❑▼❯⑤

⑧q❚▲Pq❚P

♥❑❚▲▼◗

➍❚❑◆P①r❖▼

❶r▲Pq ⑧❚❖q❚❑▼❯

✈▼❚❯s❖▼ ▲❖P②▼qq▼❖❯

❹❖rs①

❏❑◗❚②♠❯ ❸③▼▼✉◗P④❯⑥

❏❑◗❚②♠ ❸③▼✉▼❑◗❯⑥

❶r▲Pq ✈▼❚❯s❖▼➩⑧❧➄➆

❹❖P❑◗ ❶r▲Pq

Page 44: members.kabsi.atmembers.kabsi.at/wagner/ITM/Controlling/Exercises/Controlling Exercises 2018-19.pdfInternal control No. 01 Internal control No. 02 Internal control No. 03 The "Blue

❏❑▲▼◆❖P▲▼◗ ▼❘▼❖❙❚❯▼❯

❱❲❳❨❩❬❭❳❨❪ ❫❦ ❵ ➠➡❭➢❭❩❨➤➠✐ ❝❭❩❨ ➓ ❣❥ ➓

➔rr◗ → ➎▼②▼❖P◆▼⑤ ❏❑ r❖◗▼❖ ▲r ⑩▼❚❑◆ P⑩q▼ ▲r P❙❙rs❑▲ ♣r❖ ▲♦▼ ♣rqqr③❚❑◆ ▼❘▼❖❙❚❯▼❯

❯▼①P❖P▲▼q④ ❸♣❖r❾ ▲♦▼ ❖rr❾❯ ⑩s◗◆▼▲ P⑩r②▼⑥ ①q▼P❯▼ P❯❯s❾▼ ❧❼❼❷❼❼❼

♦r▲▼q ◆s▼❯▲❯ P❯ ①r▲▼❑▲❚Pq ❙s❯▲r❾▼❖❯ ♣r❖ ➔ → ➎♠

➎❖▼P✉♣P❯▲⑤ ⑧ ▲P✉▼➐s① r♣ ➄❼➇ ❚❯ ▼❘①▼❙▲▼◗♠ ➎❖▼P✉♣P❯▲ ❚❯ r♣♣▼❖▼◗ ▼❚▲♦▼❖ P❯ ❙r❑▲❚❑▼❑▲Pq

⑩❖▼P✉♣P❯▲ ♣r❖ ➑➊♠➆❼ ❸❚❑❙q♠ r♣ ❧➃♠➆➇➒⑧❶⑥ r❖ P❯ ➏❑◆q❚❯♦ ⑩❖▼P✉♣P❯▲ ♣r❖

➑❽♠❼❼ ❸Pq❯r ❚❑❙q♠ r♣ ❧➃♠➆➇ ➒⑧❶⑥♠ ➉♣ Pqq ❙s❯▲r❾▼❖❯ ♦P②❚❑◆ ⑩❖▼P✉♣P❯▲ ❯r❾▼ ➃❼➇

P❖▼ ▼❘①▼❙▲▼◗ ▲r ▲P✉▼ ➏❑◆q❚❯♦ ⑩❖▼P✉♣P❯▲♠⑧qq ➎❖▼P✉♣P❯▲ ❖▼②▼❑s▼ ❚❯ P❙❙rs❑▲▼◗ P❯

♣rr◗♠

ts⑩⑤ ➍❚❾①q④ P❙❙rs❑▲ ♣r❖ ➃➆ ❙s❯▲r❾▼❖❯ ①▼❖ ◗P④♠ ⑧②▼❖P◆▼ ❸▲r▲Pq⑥ ❯①▼❑◗ ❚❯ ➑❻♠➄❼ ❸❑▼▲

r♣ ➒⑧❶⑥♠ ➄❼➇ r♣ ▲♦▼ ts⑩ ❖▼②▼❑s▼ ③❚qq ⑩▼ ◆▼❑▼❖P▲▼◗ ③❚▲♦ ⑩▼②▼❖P◆▼❯❷ ▲♦▼

❖▼❾P❚❑◗▼❖ ③❚▲♦ ❯❑P❙✉❯♠

⑨▼❯▲Ps❖P❑▲⑤ ✇▼❖▼ ➦P❙✉❚▼ P❙❙rs❑▲❯ ♣r❖ ▲③r ◗❚♣♣▼❖▼❑▲ ❯▼◆❾▼❑▲❯♠ ❏❑ ♦rs❯▼ ❙s❯▲r❾▼❖❯

P❑◗ ③Pq✉➐❚❑❯♠ ➍♦▼ P❯❯s❾▼❯ ▲♦P▲ ❽❼➇ r♣ Pqq ♦r▲▼q ◆s▼❯▲❯ ②❚❯❚▲ ▲♦▼ ❖▼❯▲Ps❖P❑▲

P▲ q▼P❯▲ r❑❙▼♠ ❶♦▼ ◗P❚q④ ❑s❾⑩▼❖ r♣ ③Pq✉➐❚❑❯ ❚❯ ◗❚♣♣▼❖▼❑▲ r❑ ③▼▼✉◗P④❯ P❑◗

③▼▼✉▼❑◗❯♠ ➉❑ ③▼▼✉◗P④❯ ❸❺r❑◗P④ ➐ ➔❖❚◗P④⑥ ❯r❾▼ ➌❼ ❙s❯▲r❾▼❖❯ ①▼❖ ◗P④

P❖▼ ▼❘①▼❙▲▼◗♠ ➉❑ ➍P▲s❖◗P④❯ ❯r❾▼ ❧❼ ①▼r①q▼ r❑q④ P❑◗ ♣r❖ ➍s❑◗P④ ❸❾P❚❑q④

▲♦▼ ①r①sqP❖ ⑩❖s❑❙♦ ❯r❾▼ ➄❼ ◆s▼❯▲❯♠

➉♣ ▲♦▼ ▲r▲Pq ❖▼❯▲Ps❖P❑▲ ❙s❯▲r❾▼❖❯ ➊❼➇ P❖▼ ▼❘①▼❙▲▼◗ ♣r❖ qs❑❙♦❷ ❽❼➇ ♣r❖

◗❚❑❑▼❖➫ qs❑❙♦ P②▼❖P◆▼ ❙♦▼❙✉ ♣rr◗ ❚❯ ➑❽♠➆❼❷ P②▼❖P◆▼ ❙♦▼❙✉ ⑩▼②▼❖P◆▼

③❚qq ⑩▼ ➑❻♠❼❼❷ ◗❚❑❑▼❖ P②▼❖P◆▼ ❙♦▼❙✉ ❸▲r▲Pq⑥ ❚❯ ➑❧➆♠❼❼ r♣ ③♦❚❙♦ ➌❼➇

❚❯ ♣r❖ ⑩▼②▼❖P◆▼❯♠

❻♠ tq▼P❯▼ ①❖r◗s❙▼ ▲♦▼ P▲▲P❙♦▼◗ ♣r❖❾⑤ ➔ → ➎ ⑨▼②▼❑s▼ ❯s❾❾P❖④♠

➔ → ➎ ⑨▼②▼❑s▼ ➍s❾❾P❖④

❶r▲Pq ❶r▲Pq ↔r♠ r♣

➔rr◗ ➎▼②▼❖P◆▼ ⑨▼②▼❑s▼ ⑧②◆♠ ❙♦▼❙✉ ⑦s❯▲r❾▼❖❯

➎❖▼P✉♣P❯▲

ts⑩

⑨▼❯▲Ps❖P❑▲⑤

✈❚❑❙♦

❿❚❑❑▼❖

❶r▲Pq ⑨▼❯▲Ps❖P❑▲

❶r▲Pq ➔ → ➎

➍▲P♣♣❚❑◆ ♣r❖ ➎❖▼P✉♣P❯▲ ❯▼❖②❚❙▼⑤ ➎❖▼P✉♣P❯▲ ③❚qq ⑩▼ ❯▼❖②▼◗ ♣❖r❾ ❼❽♠❼❼ ➐ ❧❼♠❼❼ ❚❑ ▲♦▼

❾r❖❑❚❑◆♠ ❶♦▼ ➊➐♦rs❖ ❯♦❚♣▲❯ ③❚qq ❯▲P❖▲ ▼❚▲♦▼❖ ⑩▼ ♣❖r❾ ❼➆♠❼❼ ➐ ❼➈♠❼❼❷ ❼❽♠❼❼ ➐

❧❼♠❼❼ r❖ ❼➃♠❼❼ ➐ ❧❧♠❼❼♠

➉❑q④ ①P❖▲➐▲❚❾▼ ❸➊ ♦rs❖❯ ①▼❖ ◗P④⑥ ❯▲P♣♣ ❚❯ ♦❚❖▼◗ ▲r ◗r ▲♦▼❯▼ ❯♦❚♣▲❯♠

➉❑▼ ❯▼❖②❚❙▼ ▼❾①qr④▼▼ ❙P❑ ◗s▲④ ❙P❑ ❯▼❖②▼ ➊❼ ❙s❯▲r❾▼❖❯

❶♦▼ ▼❘①▼❙▲▼◗ ❑r♠ r♣ ⑩❖▼P✉♣P❯▲❯ ❯rq◗ ①▼❖ ◗P④ ❚❯ ❻➆❼ ❸①q▼P❯▼ ❑r▲▼ ➐ ▲♦❚❯ ❚❯

◗❚♣♣▼❖▼❑▲ ♣❖r❾ ④rs❖ ❖▼❯sq▲ ❚❑ ➅s▼❯▲❚r❑ ❻ P⑩r②▼⑥♠

↕r❖✉❚❑◆ ❯❚▲sP▲❚r❑⑤

↕r❖✉❚❑◆ ♦rs❖❯ ①▼❖ ◗P④ ➊

↕r❖✉❚❑◆ ♦rs❖❯ ①▼❖ ③▼▼✉ ❻❼

➒P❙P▲❚r❑ ③▼▼✉❯ ①▼❖ ④▼P❖ ➆

ts⑩q❚❙ ♦rq❚◗P④❯ ➊

⑧❯❯s❾▼◗ ◗P④❯ P⑩❯▼❑❙▼ ❸◗s▼ ▲r ❚qq❑▼❯❯❷♠♠♠⑥ ➆

➌❽➊ r①▼❑❚❑◆ ◗P④❯ ①▼❖ ④▼P❖♠

➌♠ tq▼P❯▼ ①❖r◗s❙▼ ▲♦▼ ♣rqqr③❚❑◆⑤

P♠ ❶♦▼ ③r❖✉❚❑◆ ♣P❙▲r❖

⑩♠ ↔r♠ r♣ ❯▲P♣♣ r❑ ◗s▲④

❙♠ ↔r♠ r♣ ①P❖▲➐▲❚❾▼❖❯ r❑ ▲♦▼ ①P④❖rqq