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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

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
a. Interest revenue $ 15,400
b. Depreciation expenseEquipment. $ 35,400
c. Loss on sale of equipment 27,250
d. Accounts payable 45,400
e. Other operating expenses 107,800
f. Accumulated depreciationEquipment 73,000
g. Gain from settlement of lawsuit 45,400
h. Accumulated depreciationBuildings 177,300
i. Loss from operating a discontinued segment (pretax) 19,650
j. Gain on insurance recovery of tornado damage 30,520
k. Net sales 1,012,500
l. Depreciation expenseBuildings 53,400
m. Correction of overstatement of prior years sales (pretax) 17,400
n. Gain on sale of discontinued segments assets (pretax) 41,000
o. Loss from settlement of lawsuit 25,150
p. Income taxes expense ?
q. Cost of goods sold 496,500

Problem 13-6 Part 3

3. What is the total amount of after-tax income (loss) associated with the discontinued segment?

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
a. Interest revenue $ 15,400
b. Depreciation expenseEquipment. $ 35,400
c. Loss on sale of equipment 27,250
d. Accounts payable 45,400
e. Other operating expenses 107,800
f. Accumulated depreciationEquipment 73,000
g. Gain from settlement of lawsuit 45,400
h. Accumulated depreciationBuildings 177,300
i. Loss from operating a discontinued segment (pretax) 19,650
j. Gain on insurance recovery of tornado damage 30,520
k. Net sales 1,012,500
l. Depreciation expenseBuildings 53,400
m. Correction of overstatement of prior years sales (pretax) 17,400
n. Gain on sale of discontinued segments assets (pretax) 41,000
o. Loss from settlement of lawsuit 25,150
p. Income taxes expense ?
q. Cost of goods sold 496,500

Problem 13-6 Part 3

3. What is the total amount of after-tax income (loss) associated with the discontinued segment?

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