2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income taxes expense? 2c. 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 net income for the year?

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31, 2017, follow. Debit Credit 14,300 $ $ 34,300 26,150 44,300 106,700 71,900 44,300 175,100 a. Interest revenue b. Depreciation expense-Equipment. C. Loss on sale of equipment d. Accounts payable e. Other operating expenses f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation - Buildings i. Loss from operating a discontinued segment (pretax) ji Gain on insurance recovery of tornado damage k. Net sales 1. Depreciation expense-Buildings m. Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) o. Loss from settlement of lawsuit p. Income taxes expense 9. Cost of goods sold 1 8,550 29,420 1,001,500 52,300 16,300 35,500 24,050 485,500 . 1. Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the three items labeled pretax. Pretax 30% Tax Effect After-Tax Loss from operating a discontinued segment Correction of overstatement of prior year's sales Gain on sale of discontinued segment's assets Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31, 2017, follow. Debit Credit 14,300 $ $ 34,300 26,150 44,300 106,700 71,900 44,300 175,100 a. Interest revenue b. Depreciation expense-Equipment. C. Loss on sale of equipment d. Accounts payable e. Other operating expenses f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation - Buildings i. Loss from operating a discontinued segment (pretax) ji Gain on insurance recovery of tornado damage k. Net sales 1. Depreciation expense-Buildings m. Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) o. Loss from settlement of lawsuit p. Income taxes expense 9. Cost of goods sold 1 8,550 29,420 1,001,500 52,300 16,300 35,500 24,050 485,500 . 1. Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the three items labeled pretax. Pretax 30% Tax Effect After-Tax Loss from operating a discontinued segment Correction of overstatement of prior year's sales Gain on sale of discontinued segment's assets