Questions are on file

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year end December 31, 2013, fo Debit a. b. c. d. e. f. g. h. i. j. k. l. m. n. o. p. q. Interest revenue Depreciation expenseEquipment. Loss on sale of equipment Accounts payable Other operating expenses Accumulated depreciationEquipment Gain from settlement of lawsuit Accumulated depreciationBuildings Loss from operating a discontinued segment (pretax) Gain on insurance recovery of tornado damage (pretax and extraordinary) Net sales Depreciation expenseBuildings Correction of overstatement of prior year's sales (pretax) Gain on sale of discontinued segment's assets (pretax) Loss from settlement of lawsuit Income taxes expense Cost of goods sold $ 34,200 26,050 106,600 18,450 52,200 16,200 23,950 ? 484,500 1. Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the four items labeled pretax. (Loss amounts should be indicated with a minus sign.) Pretax Effect After-Tax Loss from operating a discontinued segment Gain on insurance recovery of tornado damages Correction of overstatement of prior year's sales Gain on sales of discontinued segment's assets What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes What is the amount of the income taxes expense? Income taxes expense What is the amount of income from continuing operations? Income from continuing operations after taxes What is the total amount of after-tax income (loss) associated with the discontinued segment? After-tax income from discontinued segment What is the amount of income (loss) before the extraordinary items? Income before extraordinary items What is the amount of net income for the year? Net income