Question

Information from Cementex Corporation’s (Cementex) income statements for the years ended December 31, Year 9 and Year 10, is shown in the following display. Cementex is a Mexican construction firm that applies Mexican accounting standards and reports its results in millions of pesos ($).
Cementex Corporation
Income Statement Data
December 31, Year 10 and Year 9



Assume Cementex had an effective tax rate of 15.11% in Year 10 and 16.35% in Year 9.
a. Compute the missing amounts for each of the two years.
b. Prepare, in good format, an income statement for Cementex for Year 9 and Year 10 assuming the firm appliesIFRS.


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  • CreatedMarch 04, 2014
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