Q2. Selected account balances from the adjusted trial balance for Stomachache Corporation as of its calendar year-end December 31 are as follows: Debit (INR) Credit (INR) 15,300 a. Interest revenue b. Depreciation expense - Equipment c. Loss on sale of equipment d. Accounts Payable e. Other operating expenses 35,300 27,150 45,300 107,700 72,900 45,300 177,100 19,550 30,420 1,011,500 f. Accumulated depreciation - Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation - Building 1. 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 q. Cost of goods sold Assume a tax rate of 30%. 53,300 17,300 40,500 25,050 ? 495,500 Required: 1. Compute the below (9 marks) a) What is the amount of income from continuing operations before income taxes? b) What is the amount of the income tax expense? c) What is the amount of income from continuing operations after income taxes? 2. What is the total amount of after-tax income (loss) associated with the discontinued segment? (3 marks) 3. What is the amount of net income for the year