The following information is based on accounting data for Year
The following information is based on accounting data for Year 7 and Year 8 for China Oil Company (COC), a large petrochemicals company in China. COC applies IFRS, and reports its results in millions of U.S. dollars.


a. Prepare an income statement for COC for the year ending December 31, Year 8.
b. Prepare a comparative balance sheet for COC on December 31, Year 7, and December 31, Year 8. Show noncurrent assets before current assets and noncurrent liabilities before current liabilities, as is the customary presentation for IFRS, which COC uses.
c. Prepare an analysis of the change in Retained Earnings during the year ending December 31, Year8.
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