12. Formulas for cash flow and the ratio of debt to equity do not apply to new small businesses in the same way as they do to established big businesses, because they are growing and are seldom in equilibrium.
(A) Formulas for cash flow and the ratio of debt to equity do not apply to new small businesses in the same way as they do to established big businesses, because they are growing and are seldom in equilibrium.
(B) Because they are growing and are seldom in equilibrium, formulas for cash flow and the ratio of debt to equity do not apply to new small businesses in the same way as they do to established big businesses.
(C) Because they are growing and are seldom in equilibrium, new small businesses are not subject to the same applicability of formulas for cash flow and the ratio of debt to equity as established big businesses.
(D) Because new small businesses are growing and are seldom in equilibrium, formulas for cash flow and the ratio of debt to equity do not apply to them in the same way as to established big businesses.（D）
(E) New small businesses are not subject to the applicability of formulas for cash flow and the ratio of debt to equity in the same way as established big businesses, because they are growing and are seldom in equilibrium.
In C and E, subject to the [same] applicability of... is wordy, awkward, and imprecise; furthermore, are is preferable either before or after established big businesses to complete the comparison. Finally, the referent of they is not immediately clear in E.
are is preferable either before or after established big businesses to complete the comparison. Finally, the referent of they is not immediately clear in E.
这两句不懂，are怎么完成了对比的？他是说C，E选项用are是对的么？
E中的they为什么指代不明？ | 
