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## 26. INCOME TAX 

a. The components of income taxes are as follows: 

<img src='content_image/276698.jpg'>

b. A reconciliation between income tax expense computed by applying the statutory income tax rate of 25% for 2009, and 17% for 2010 and 2011 to income before income tax and income tax expense shown in the statements of income and comprehensive income is as follows: 

<img src='content_image/276699.jpg'>

The balances of income tax payable as of December 31, 2009, 2010 and 2011 were shown net of prepaid income tax. 

