Income tax is 40%

Required information Problem 13-6AA Income statement computations and format LO A2 [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, 2017, follow. Debit $ Credit 15,400 $ 35,400 27,250 45,400 107,800 73,000 45,400 177, 300 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 taxes expense 4. Cost of goods sold 19,650 30,520 1,012,500 53,400 17,400 41,000 25,150 ? 496,500 Problem 13-6 Part 2 G Problem 13-6 Part 2 14 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? Complete this question by entering your answers in the tabs below. ok ht Req 2A Reg 2B Reg 20 -nces What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes Reg 2 Req 2B > 10 11 . ere to search