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2b. What is the amount of income tax expense? I got the answer is wrong. please show calculation and give me the right answer. Selected

2b. What is the amount of income tax expense? I got the answer is wrong. please show calculation and give me the right answer.

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Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Debit Credit 14,600 $ $ 34,600 26,450 44,600 107,000 72,200 44,600 175,709 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) j. 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 tax expense 9. Cost of goods sold 18,850 29,720 1,004,500 52,600 16,600 37,000 24,350 488,500 Problem 17-6AA Part 2 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. 2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income tax expense? 2c. What is the amount of income from continuing operations? Complete this question by entering your answers in the tabs below. Reg 2A Req 2B Reg 2c What is the amount of the income tax expense? Income tax expense $ 107,976

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