The income statement of Royal Bank of Singapore reported the following results of operations:

Suppose Royal Bank's management had reported the company's results of operations in this manner:
Earnings before income taxes ................ $847,111
Income tax expense ............................... 352,651
Net earnings.......................................... $494,460

Required

Put yourself in the position of the controller of the bank. Your boss, the CEO, tries to pressure you to make the disclosure that violates IFRS. What would you do? What are the potential consequences?

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Earnings before income taxes and Income tax expense. Earnings before extraordinary gain $187,046 72,947 114,099 419,557