no 1 please - using the information anove what ate some possible causes for the differing results of these companies?

Mark- 10 Q. No. 1: X Inc. and Y Inc. are virtually identical companies with identical cost structures and very similar business practices operating in the same lines of business. X Inc. is a public company based in Canada and follows IFRS while y Inc. is a private enterprise based in Canada and follows ASPE. The following were the condensed income statements for both companies for the last year before both adopted IFRS X Inc. Y Inc $1,000,000 $2,000,000 Sales: Less: Cost of Goods Sold Gross Margin Administrative Expenses $500,000 $1,600,000 $500,000 $400,000 $200,000 $300,000 Net Income: $300,000 $100,000 Required: Given the information provided what are some possible causes for the differing results of these companies