Assume that the companys income tax rate is 30% for all items.

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Debit Credit a. Interest revenue $ 15,500 b. Depreciation expense-Equipment $ 35,500 c. Loss on sale of equipment 27,350 d. Accounts payable 45,500 e. Other operating expenses 107,900 f. Accumulated depreciation-Equipment 73,100 g. Gain from settlement of lawsuit 45,500 h. Accumulated depreciation-Buildings 177,500 i. Loss from operating a discontinued segment (pretax) 19,750 j. Gain on insurance recovery of tornado damage 30, 620 k. Net sales 1,013,500 1. Depreciation expense-Buildings 53,500 m. Correction of overstatement of prior year's sales (pretax) 17,500 n. Gain on sale of discontinued segment's assets (pretax) 41,500 o. Loss from settlement of lawsuit 25, 250 p. Income tax expense ? g. Cost of goods sold 497,500 Problem 17-6AA Part 3 3. What is the total amount of after-tax income (loss) associated with the discontinued segment? After-tax income from discontinued segment 4. What is the amount of net income for the year? Net income