A, B & C!!

+ number 4

[The following information applies to the questions displayed below! Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Debit Credit $ 14, eee $ 34,000 25,850 44, cee 106,400 71,600 44, eee 174,5ee a. Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable e. Other operating expenses f. Accumulated depreciation-Equipment B. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings i. Loss from operating a discontinued segment (pretax) 1. 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 18,25e 2e, eee 998,888 52,eee 16, eee 34, eee 23,250 ? 482,500 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? Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Debit Credit $ 14, eee $ 34, eee 25,850 44, eee 106,400 71,6ee 44, 174,500 a. Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable e. Other operating expenses f. Accumulated depreciation-Equipment 8. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings i. Loss rom 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 4. Cost of goods sold 18,250 20, eee 998, eee 52, eee 16, eee 34, eee 23, 250 2 482,500 4. What is the amount of net income for the year? Nel income