Selected account balances from the adjusted trial balance for Harton Corp. as of its calendar year-end December 31, 2009, follow.

Required
Answer each of the following questions by providing supporting computations.
1. Assume that the company€™s income tax rate is 25% for all items. Identify the tax effects and after tax amounts of the four items labeled pretax.
2. What is the amount of income from continuing operations before income taxes? What is the amount of income taxes expense? What is the amount of income from continuing operations?
3. What is the total amount of after-tax income (loss) associated with the discontinued segment?
4. What is the amount of income (loss) before the extraordinary items?
5. What is the amount of net income for theyear?

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Debit Credit lated depreciation-Buildings $ 410,000 b. Interest revenue. c. Net sales. d. Income taxes expense e. Loss on hurricane damage (pretax and extraordinary) . _ f. Accumulated depreclation- Equlpment g. Other operating expenses 30,000 2.650.000 74,000 230,000 338,000 10,000 L. Loss from settlement of lawsult . Galn from settlement of lawsuit k. Loss on sale of equlpment . Loss from operating a discontinued segment (pretax) 78,000 34,000 30,000 166,000 n. Correction of overstatement of prior year's expense (pretax) …·…· o. Cost of goods sold P. Loss on sale of discontinued segment's assets (pretax) 190,000 q. Accounts payable 58,000 050,000 42.000