FECHA 19 7 2019

NOMBRE YOLANDA ACURIO MENDOZA

ACTIVIDAD Vneta de artesanias, joyeria , productos naturales y bebid
TIPO DE CAMBIO 3.345
MONTO 220000 SOLES
PERIODO DE GRACIA 0 MESES
PLAZO 60 MESES
TEM 0.95%
PLAZO REAL 60 MESES
INTERES PERIODO DE GRACIA 0 SOLES
CUOTA 4827 SOLES

ACTIVO SOLES DOLARES TOTAL MN

EFECTIVO 5000 5000
DEPOSITOS M.N. 0 0
DEPOSITOS M.E. 0
TOTAL 5000 0 5000
CUENTAS POR COBRAR 0
Adelanto terreno 70000 0 70000
0 0
0
0
TOTAL X COBRAR 70000 0 70000
ADELANTO PROVEEDORES 0
INVENTARIO 194239 194239
INVENTARIO 2 0
MERCADERIAS Y/O PRODUCTOS TERMINADOS
Monto
Segun Inventario 1 194239 194239
0
0
0
SUB TOTAL 194239
PRODUCTOS EN PROCESO
Monto
0
0
SUB TOTAL 0
MATERIAS PRIMAS E INSUMOS
Cantidad Costo Monto
0
0
0
0
SUB TOTAL 0
TOTAL 194239
ACTIVO CORRIENTE 269239 0 269239
MUEBLES 0
1 según anexo 39090 0 39090
0 0 0
0 0 0
TOTAL 39090 0 39090
MAQ Y EQUIPO
0 0 0
0 0 0
0 0 0
0 0 0
TOTAL 0 0 0
INMUEBLES
138600 0 138600
0 0
TOTAL 138600 0 138600
A. NO CORRIENTE 177690 0 177690
TOTAL ACTIVO 446929 0 446929

PASIVO SOLES DOLARES TOTAL MN

pasivo corriente bancos 0
cuentas por pagar comerciales 0
PASIVO CORRIENTE 0 0 0
PRESTAMOS DIRECTOS 0
CAJA CUSCO 60653 60240
CAJA AREQUIPA 48356 48356
0
0
T. PRESTAMOS DIRECTOS 109009 0 108596
CREDITOS INDIRECTOS
0 0
0 0
0 0
TOTAL CREDITOS INDIRECTOS 0 0 0
PASIVO NO CORRIENTE 109009 0 108596
TOTAL PASIVO 109009 0 108596

PATRIMONIO 337920 0 337920

INGRESOS POR VENTAS MONTO DIAS TOTAL

naturales 6758 6758
joyeria 886 886
artesania 3733 3733
chicha 2904 2904
frutillada 2800 1 2800
TOTAL 17081
productos naturales 2838 2838
joyeria 398 398
artesania 1642 1642
chicha 406 406
frutillada 616 616
TOTAL 5900
UTILIDAD OPERATIVA 11181
COSTOS OPERATIVOS SOLES DOLARES TOTAL MN
personal 800 800
alquiler 700 700
comision guias 543 543
tributo 20 20
transporte 80 80
servicios 100 100
utensillo de limpieza 50 50
leña 96 96
molienda 36 36
merma 50 50
TOTAL 2475 0 2425

HIJOS 1 depenedientes 1
AVTIVIDAD SECUNDARIA
SUELDO 0 0
Gastos Familiares SOLES DOLARES TOTAL MN
Alimentacion 400 400
educacion 0
transporte 100 100
Alquiler 0 0
Telefono 0 0
Agua 50 50
Luz 50 50
celular 50 50
internet 50 50
cable 50 50
medicinas 100 100
Otros 0 0
TOTAL GASTOS SIN PRESTAMOS 850 0 850
PRESTAMOS DIRECTOS SOLES DOLARES TOTAL MN
caja Cusco 0
0
0
0
TOTAL CREDITOS DIRECTOS 0 0 0
PRESTAMOS INDIRECTOS

TOTAL CREDITOS INDIRECTOS 0 0 0

CASAS COMERCIALES
0
0
TOTAL CASA COMERCIALES 0 0 0
TOTAL DEUDAS CONSUMO 0 0 0
TOTAL GASTO FAMILIAR 850 0 850
 URIE

INGRESO DE DATOS RESULTADOS

TIPO DE CREDITO RATIO DETERMINANTE

pequeña 2 REAL LIMITE

61% 80%
EXPUESTO A SOBREEND
NO
RATIO PASIVO /PATRIMONIO
CLASIFICACION REAL LIMITE
100% NORMAL
CPP 97% 100%
DEFICIENTE
DUDOSO
PERDIDA
100% TOTAL
NORMAL
N° DE ENTIDADES
2

ACTIVIDAD
comercio
SOLES DOLARES

SOLES DOLARES

SOLES DOLARES

referencial

SOLES DOLARES TOTAL MNCUOTAS RESTANTES

0 24
0
0
0
0 0 0
linea total tasa plazo porcentaje
0 0 0 3.40% 36 30%
0 0 3.40% 12 100%
0 0 3.40% 12 100%
0 0 0
0 0 0

718684 -380764

frecuencia
mensual
mensual
mensual
mensual
mensual
CUOTAS RESTANTES
23

linea total tasa plazo porcentaje

0
 ESULTADOS

O DETERMINANTE
RESULTADO

POSITIVO

O /PATRIMONIO
RESULTADO

POSITIVO

NORMAL
inicia
caja cusco 63000
arequipa 49000
112000
prestamo 200000
sobra 88000
precio de ter 160000 75000 85000
 HOJA DE TRABAJO Actividad económica Vneta de artesanias, joyeria , productos n

FECHA 19 7 2019
II ESTADDO DE RESULTADOS
A.-INGRESOS POR VENTAS /SERVICIOS
BALANCE GENERAL
Descripcion
1.-DISPONIBLE
EFECTIVO 5000 naturales 6758 X 1 mensua 6758
DEPOSITOS M.N. 0 joyeria 886 X 1 mensua 886
DEPOSITOS M.E. 0 artesania 3733 X 1 mensua 3733
chicha 2904 2904
TOTAL 5000 frutillada 2800 2800
Total ingresos 17081

2.- CUENTAS POR COBRAR B.-COSTOS POR VENTAS/PRODUCCION

Adelanto terreno 70000 Productos Naturales 2838
0 0 joyeria 398
0 0 artesania 1642
chicha 406
Artesania 616
0 0 Total costo de mercad./produccion 5900
TOTAL 70000

3.-ADELANTO PROVEEDORES 0 UTILIDAD OPERATIVA 11181

4.-INVENTARIO 194239
TOTAL ACTIVO CORRIENTE 269239 C.-COSTOS OPERATIVOS
5.- Muebles maq. Y equipos personal 800
Inmuebles 138600 alquiler 700
Maquinaria y equipos 39090 comision guias 543
TOTAL ACTIVO NO CORRIENTE 177690 Tributos 20
TOTAL ACTIVOS 446929 Transporte 80
PASIVO Alquileres 100
1.- pasivo corriente bancos 0 Agua luz telefono 50
2.-cuentas por pagar comerciales 0 Otros 182
TOTAL PASIVO CORRIENTE 0 Total Costos Operativos 2475
3.-Prestamos directos D. Endeudamiento total en el sistema financiero (Pago de Cuota)
CAJA CUSCO 60240 (Que esten relacionados con la actividad economica o negocio)
CAJA AREQUIPA 48356 Creditos Directos
0 0 0
0 0 0
Total creditos directos 108596 0 0
0 0 0 0
0 0 Total Creditos Directos 0
0 0
Total creditos indirectos 0 Creditos Indirectos o Contingentes
0 0
TOTAL PASIVO NO CORRIENTE 108596 0 0
TOTAL PASIVOS 108596 0 0
TOTAL PATRIMONIO 338333 Total Creditos Indirectos 0
Total Endeudamiento Sistema Financiero 0
RESULTADO EMPRESARIAL 8706
Firma y sello del analista
 INVENTARIO A. Descripcion del ingreso fuera del negocio B. CREDITOS CASAS COMERCIALES
0 0 0
MERCADERIAS Y/O PRODUCTOS TERMINADOS 0 0
Descripcion Cantidad Costo Monto TOTAL INGRESOS Total Creditos Casas Comerciales 0
Segun Inventario 1 194239 194239 S/. 0 C. ENDEUDAMIENTO TOTAL EN EL SISTEMA FINANCIERO*
0 0 0 0 Creditos Directos
0 0 0 0 (*)ingreso para dependientes. caja Cusco 0
0 0 0 0 0 0
SUB TOTAL 194239 0 0
PRODUCTOS EN PROCESO 0 0
Descripcion Cantidad Costo Monto Total Creditos Directos 0
0 0 0 0 Creditos Indirectos o Contigentes
0 0 0 0 0 0
SUB TOTAL 0 0 0
0 0
MATERIAS PRIMAS E INSUMOS 0 0
Descripcion Cantidad Costo Monto Total Creditos Indirectos 0
0 0 0 0
0 0 0 0 Total Endeudamiento
0 0 0 0 Sistema Financiero S/. 0
0 0 0 0 *Que NO esten relacionados con la
SUB TOTAL 0 actividad economica o negocio
TOTAL 194239 D. GASTOS FAMILIARES

DETALLE DE ACTIVOS N° de hijos 1 Dependientes 1

Detalle a que se dedican cada hijo o dependiente
MUEBLES 1
Cantidad Descripcion Monto 2
1 según anexo 39090 3
0 0 0
0 0 0 Alimentacion 400
SUBTOTAL 39090 Transportes 100
MAQUINARIA Y EQUIPO Alquileres 0
0 0 0 Educacion 0
0 0 0 servicios luz 50 agua 50
0 0 0 cable 50 celular 50
0 0 0 telefon 0 internet 50 250
SUBTOTAL 0 Provision de Medicinas 100
INMUEBLES Otros 0
Cant Ubicación valor Unitario Monto
0 0 138600 0 Total gastos familiares 850
0 0 0 0
SUB TOTAL 0
TOTAL 39090 TOTAL EGRESOS(A+B+C)
S/. 850
 EVOLUCION DE LOS ESTADOS FINANCIEROS
Y RIESGO CAMBIARIO CREDITICIO
APELLIDOS Y NOMBRES DEL CLIENTE YOLANDA ACURIO MENDOZA
RAZON SOCIAL

HISTORIA CREDITICIA HISTORIA CREDITICIA

FECHA 19 7 2019 FECHA 2019 1 10
MONTO 220,000 MONTO
CUOTA 4,827 CUOTA
PLAZO 60 PLAZO
HISTORIA ECONOMICA FINANCIERA HISTORIA ECONOMICA FINANCIERA
ACTIVO MN (S/-) ME($) TOTAL MN ACTIVO MN (S/-) ME($) TOTAL MN
Disponible 5000 0 5000 Disponible 5000 5000
Cuentas por cobrar 70000 0 70000 Cuentas por cobrar 70000 70000
Inventario 194239 0 194239 Inventario 194239 194239
TOTAL ACTIVO CORRIENTE 269239 0 269239 TOTAL ACTIVO CORRIENTE 269239 0 269239
Muebles maquinaria y equipo 39090 0 39090 Muebles maquinaria y equipo 39090 39090
Inmuebles 138600 0 138600 Inmuebles 138600 138600
TOTAL ACTIVO FIJO 177690 0 177690 TOTAL ACTIVO FIJO 177690 0 177690
Otros 0 Otros 0
TOTAL ACTIVO 446929 0 446929 TOTAL ACTIVO 446929 0 446929
PASIVO Y PATRIMONIO PASIVO Y PATRIMONIO
Pasivo Corriente Bancos 0 0 0 Pasivo Corriente Bancos 109009 109009
Ctas por pagar Comerciales 0 0 0 Ctas por pagar Comerciales 0
pasivo no corriente bancos 109009 0 109009 pasivo no corriente bancos 0
Patrimonio 337920 0 337920 Patrimonio 332920 0 332920
TOTAL PASIVO PATRIMONIO 446929 0 446929 TOTAL PASIVO PATRIMONIO 441929 0 441929
FLUJOS DE CAJA FLUJOS DE CAJA
(+)Ingresos por ventas/servicios 17081 17081 (+)Ingresos por ventas/servicios 17081 17081
(-)Costo de merc/ prod 5900 5900 (-)Costo de merc/ prod 5900 5900
(=)utilidad Bruta 11181 0 11181 (=)utilidad Bruta 11181 0 11181
(-)Costos operativos 2405 2405 (-)Costos operativos 2475 2475
(-)Tributos 20 20 (-)Tributos 0
(-)servicios de Deuda 0 0 0 (-)servicios de Deuda 0
RESULTADO EMPRESARIAL 8756 0 8756 RESULTADO EMPRESARIAL 8706 0 8706
(+) Ing Netos Fuera del negocio 0 0 0 (+) Ing Netos Fuera del negocio 0
(-)Gastos Familiares 850 0 850 (-)Gastos Familiares 850 850
RESULTADO NETO EN S/- 7906 0 7906 RESULTADO NETO EN S/- 7856 0 7856

SHOCK CAMBIARIO SHOCK CAMBIARIO

T.C. MES ANTERIOR 3.345 T.C. MES ANTERIOR 3.35
T.C. CON DEPRECIACION 10% 3.68 20% 4.014 T.C. CON DEPRECIACION 10% 3.68 20% 4.014
DISPONIBLE EN US$ 2149 1970 DISPONIBLE EN US$ 1957

Ventas/Capital de trabajo 0.06 Ventas/Capital de trabajo 0.063441775

Pasivo/Patrimonio 32% Pasivo/Patrimonio 33%
Utilidad Bruta/Ventas 65% Utilidad Bruta/Ventas 65%
Resultado empresarial/Patrimon 3% Resultado empresarial/Patrimon 3%
Costo ventas/Inventario
Expuesto a riesgo cambiario 0.35 Costo
Expuestoventas/Inventario
a riesgo cambiario 0.345413032
crediticio S/N SI NO crediticio S/N SI NO

80% resultado 6325

Vª Bª y sello del analista de credito Vª Bª y sello del analista de credito

 EVOLUCION DE LOS ESTADOS FINANCIEROS
ANALISIS VERTICAL Y RATIOS
APELLIDOS Y NOMBRES DEL CLIENYOLANDA ACURIO MENDOZA

HISTORIA CREDITICIA
FECHA ### 10 3 2019 10 3 Variaciones
HISTORIA ECONOMICA FINANCIERA Aumento
ACTIVO TOTAL MN TOTAL MN (Disminución)
Disponible 3800 1.99% 5000 1.12% 1200
Cuentas por cobrar 0.00% 70000 15.66% 70000
Inventario 48115 25.15% 48115 10.77% 0
TOTAL ACTIVO CORRIENTE 269239 140.72% 269239 60.24% 0
Muebles maquinaria y equipo 13810 7.22% 39090 8.75% 25280
Inmuebles 125600 65.65% 138600 31.01% 13000
TOTAL ACTIVO FIJO 177690 92.87% 177690 39.76% 0
Otros 0 0.00% 0 0.00% 0
TOTAL ACTIVO 191325 100.00% 446929 100.00% 255604
PASIVO Y PATRIMONIO
Pasivo Corriente Bancos 58348 43.88% 0 0.00% -58348
Ctas por pagar Comerciales 0 0.00% 0 0.00% 0
pasivo no corriente bancos 0 0.00% 109009 24.39% 109009
Patrimonio 58348 43.88% 337920 75.61% 279572
TOTAL PASIVO PATRIMONIO 132977 100.00% 446929 100.00% 313952
FLUJOS DE CAJA
(+)Ingresos por ventas/servicios 20636 100% 17081 100.00% -3555
(-)Costo de merc/ prod 8413 41% 5900 34.54% -2513
(=)utilidad Bruta 12223 59% 11181 65.46% -1042
(-)Costos operativos 3342 16% 2405 14.08% -937
(-)Tributos 0 0% 20 0.12% 20
(-)servicios de Deuda 3020 15% 0 0.00% -3020
RESULTADO EMPRESARIAL 5861 28% 8756 51.26% 2895
(+) Ing Netos Fuera del negocio 0 0% 0 0.00% 0
(-)Gastos Familiares 650 3% 850 4.98% 200
RESULTADO NETO EN S/- 5211 25% 7906 46.29% 2695
 INDICADORES FINANCIEROS
10/3/2018 7/22/2019
RAZONES DE LIQUIDEZ
Razón Corriente 3.28 veces 0.80 veces

Prueba Acida 3.79 veces 0.40 veces

Capital de Trabajo 210891 269239

RAZONES DE ROTACION O GESTION
Rotacion de cartera 610.58 dias 737.66 dias

Periodo Pago Proveedores 0 dias 0 dias

Rotación de Inventarios 2059 dias 1468 dias

Costo de Ventas/Ventas 41% 35%

Gastos Operativos/Ventas 31% 14%

INDICADORES FINANCIEROS
Endeudamiento Corto Plazo 100% 0%

Endeudamiento Largo Plazo 0% 32%

Endeudamiento Total 100% 32%

RAZONES DE RENTABILIDAD
Margen Comercial 59% 65%

Margen Neto 25% 46%

Rent. sobre Activos (ROA) 3% 2%

Rent. sobre Patrimonio (ROE) 9% 2%

Variaciones
% Aumento
(Disminución)
31.58%
#DIV/0!
0.00%
0.00%
183.06%
10.35%
0.00%
#DIV/0!
133.60%

-100.00%
#DIV/0!
#DIV/0!
479.15%
236.09%

-17.23%
-29.87%
-8.52%
-28.04%
#DIV/0!
-100.00%
49.39%
#DIV/0!
30.77%
51.72%
 ANEXO N° 02
MEDICION DE LA EXPOSICION A RIESGO DE SOBREENDEUDAMIENTO
FORMATO URIE N° 001
1.- RATIO DETERMINANTE (*) Cuotas totales
Resultado Neto
PARA LA DETERMINACION DE LAS CUOTAS TOTALES:
A Cuotas Caja Arequipa 4827 + + 0 = 4827

B Cuotas Sistema Financiero 0 + + = 0

C Exposic. Equivalente Riesgo de crédito 0 + + 0 = 0

Cuotas Totales ( A+B+C) = 4827

OTROS INDICADORES
Resultado Neto Pymes 7906

DETERMINACION DEL RATIO PARA CLIENTES PYMES:

Cuotas Totales
=
Resultado Neto Pymes+(Cuotas Totales- Cuotas Caja Arequipa Pymes) 61%

DETERMINACION DEL RATIO PARA CLIENTES MIXTOS:

Para la determinación de este ratio se trabaja en función a la última evaluación ingresada en el sistema,
sea que ésta corresponda a pymes o consumo.

SI LA EVALUACION ES PYME EL CALCULO DEL RATIO SE REALIZA COMO CLIENTE PYME

RATIOS COMPLEMENTARIOS

1. DEUDA TOTAL / PATRIMONIO

CLIENTES PYMES
Deuda Directa + monto a otorgar 328596
Deuda Potencial (FCC) 0
Deuda (A+B) 328596

Patrimonio 337920

RATIO DEUDA TOTAL / PATRIMONIO 97.24%

2. NUMERO DE ENTIDADES
Numero de Entidades con las que
Registra endeudamiento. 2

3. CALIFICACION SBS
Calificacion SBS 100% NORMAL
0% CPP
0% DEFICIENTE
0% DUDOSO
0% PERDIDA
 CLIENTE: YOLANDA ACURIO MENDOZA FACTORES DE AJUSTE
AGENCIA SAN SEBASTIAN Sector al que pertenece el negocio comercio
Moneda SOLES escenario pesimista reduciendo sus ingresos en 10%
Tipo de cambio 3.35 SOLES Tipo de cambio depreciado al 10% 3.68
Monto a aprobar 220,000 SOLES Tipo de cambio depreciado al 20% 4.01
Gracia 0 MESES
Plazo (meses) 60 MESES
Tasa de int. Mens. TEM 0.95%
Cuota 4,827 SOLES 999999999
CUOTA EN MONEDA NACION 4827 SOLES
MONTO A APROBAR EN MONEDA NA 220000 SOLES

Numero de periodos 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Periodo Nov-2020 #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN?

ACUMULADO ESPERADO 14,283 18,739 23,194 27,650 32,106 36,561 41,017 45,473 49,928 54,384 58,840 63,295 67,751 72,207
ACUMULADO PESIMISTA 13,037 -5,754 -2,544 665 3,875 7,084 10,294 13,503 16,713 19,922 23,131 26,341 29,550 32,760
1 INGRESOS
DISPONIBLE 5000
PRESTAMO OTORGADO 220,000
INGRESOS DEL NEGOCIO 0 0 0 0 0 0 0 0 0 0 0 0 0 0
naturales 6758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758
joyeria 2904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904
artesania 2800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800
TOTAL INGRESOS DEL NEGOCIO 12,462 232,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462
OTROS INGRESOS FUERA DEL NEGOCIO 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL INGRESOS ESPERADOS 12462 232462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462
TOTAL INGRESOS ESCENARIO PESIMISTA 11216 209216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216
2 EGRESOS
2.1 COSTOS DE PRODUCCION O REPOSICION 0 0 0 0 0 0 0 0 0 0 0 0 0 0
joyeria 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398
artesania 1642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642
chicha 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406
TOTAL COSTOS PRODUCCION O REPOSICION 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446
2.2 COSTOS OPERATIVOS
personal 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800
alquiler 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700
comision guias 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543
tributo 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20
transporte 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80
servicios 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
utensillo de limpieza 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
molienda 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36
TOTAL COSTOS OPERATIVOS 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329
2.4 PRESTAMOS DIRECTOS PYMES 0 0 0 0 0 0 0 0 0 0 0 0 0 0
CAJA CUSCO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
CAJA AREQUIPA 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL PRESTAMOS DIRECTOS PYNES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2.5 PROVISION PRESTAMOS INDIRECTOS PYMES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2.3 CUOTA CREDITO PROPUESTO 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827
TOTAL PRESTAMOS DIRECTOS E INDIRECTOS 0 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827
2.6 PRESTAMOS DIRECTOS CONSUMO 0 0 0 0 0 0 0 0 0 0 0 0 0 0
caja Cusco 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL PRESTAMOS CONSUMO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2.7 PROVISION PRESTAMOS INDIRECTOS CONSUMO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL PRESTAMOS DIRECTOS E INDIRECTOS CONSUMO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
2.8 INVERCION 220,000 0 0 0 0 0 0 0 0 0 0 0 0 0
2.9 OTROS GASTOS 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850
TOTAL EGRESOS 3179 228006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006
FLUJO DE CAJA ESPERADO 14283 18,739 23,194 27,650 32,106 36,561 41,017 45,473 49,928 54,384 58,840 63,295 67,751 72,207 76,662

FLUJO DE CAJA ESCENARIO PESIMISTA 13,037 -5,754 -2,544 665 3,875 7,084 10,294 13,503 16,713 19,922 23,131 26,341 29,550 32,760 35,969
 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
#ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN?

76,662 81,118 85,574 90,029 94,485 98,941 103,396 107,852 112,308 116,763 121,219 125,675 130,130 134,586 139,042 143,497 147,953 152,409 156,864 161,320 165,776
35,969 39,179 42,388 45,598 48,807 52,017 55,226 58,436 61,645 64,854 68,064 71,273 74,483 77,692 80,902 84,111 87,321 90,530 93,740 96,949 100,159

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758
2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904
2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800
12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462
11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398
1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642
406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406
2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446

800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800
700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700
543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543
20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20
80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80
100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36
2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827
4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850
8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006
81,118 85,574 90,029 94,485 98,941 103,396 107,852 112,308 116,763 121,219 125,675 130,130 134,586 139,042 143,497 147,953 152,409 156,864 161,320 165,776 170,231

39,179 42,388 45,598 48,807 52,017 55,226 58,436 61,645 64,854 68,064 71,273 74,483 77,692 80,902 84,111 87,321 90,530 93,740 96,949 100,159 103,368
 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55
#ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN?

170,231 174,687 179,143 183,598 188,054 192,510 196,965 201,421 205,877 210,332 214,788 219,244 223,699 228,155 232,611 237,066 241,522 245,978 250,433 254,889
103,368 106,577 109,787 112,996 116,206 119,415 122,625 125,834 129,044 132,253 135,463 138,672 141,882 145,091 148,301 151,510 154,719 157,929 161,138 164,348

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758 6,758
2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904 2,904
2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800 2,800
12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462 12,462
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462 12462
11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216 11216

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398 398
1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642 1,642
406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406 406
2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446 2446

800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800 800
700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700 700
543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543 543
20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20
80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80
100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36 36
2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329 2329
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827 4,827
4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827 4827
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850 850
8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006 8006
174,687 179,143 183,598 188,054 192,510 196,965 201,421 205,877 210,332 214,788 219,244 223,699 228,155 232,611 237,066 241,522 245,978 250,433 254,889 259,345

106,577 109,787 112,996 116,206 119,415 122,625 125,834 129,044 132,253 135,463 138,672 141,882 145,091 148,301 151,510 154,719 157,929 161,138 164,348 167,557
 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72
#ADDIN? #ADDIN? #ADDIN? #ADDIN? #ADDIN? Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705
Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705 Jan--12705
259,345 263,800 268,256 272,711 277,167 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
167,557 170,767 173,976 177,186 180,395 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
6,758 6,758 6,758 6,758 6,758 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
2,904 2,904 2,904 2,904 2,904 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
2,800 2,800 2,800 2,800 2,800 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
12,462 12,462 12,462 12,462 12,462 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
12462 12462 12462 12462 12462 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
11216 11216 11216 11216 11216 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
398 398 398 398 398 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
1,642 1,642 1,642 1,642 1,642 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
406 406 406 406 406 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
2446 2446 2446 2446 2446 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
800 800 800 800 800 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
700 700 700 700 700 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
543 543 543 543 543 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
20 20 20 20 20 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
80 80 80 80 80 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
100 100 100 100 100 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
50 50 50 50 50 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
36 36 36 36 36 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
2329 2329 2329 2329 2329 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
4,827 4,827 4,827 4,827 4,827 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
4827 4827 4827 4827 4827 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
0 0 0 0 0 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
0 0 0 0 0 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
850 850 850 850 850 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999 999,999,999
8006 8006 8006 8006 8006 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999 999999999
263,800 268,256 272,711 277,167 281,623 ### ### ### ### ### ### ### ### ### ### ### ###
### ### ### ### ### ### ### ### ### ### ### ###
170,767 173,976 177,186 180,395 183,605 ### ### ### ### ### ### ### ### ### ### ### ###