Required: 1. Assume that the company's income tax rate is 30% for all items. labeled pretax. "YEVITI 10 [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 follow. Part 2 of 4 Debit Credit $ 14,000 10 points $ 34,000 25,850 44,000 106,400 Skipped 71,600 44,000 174,500 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 tax expense 9. Cost of goods sold 18,250 20,000 998,000 eBook 52,000 16,000 34,000 23,250 Print 482,500 De References 2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income tax expense? 2c. What is the amount of income from continuing operations? Complete this question by entering your answers in the tabs below. Req 2A Req 2B Reg 2C What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes Reg 2A Req 2B > 10 [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 follow. Part 2 of 4 Debit Credit $ 14,000 $ 34,000 25,850 44,000 10 points 106,400 71,600 44,000 174,500 Skipped 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 tax expense 9. Cost of goods sold 18,250 20,000 998,000 52,00 16,000 eBook 34,000 23,250 ? 482,500 Print References 2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income tax expense? 2c. What is the amount of income from continuing operations? Complete this question by entering your answers in the tabs below. Reg 2A Reg 2B Req 2c What is the amount of the income taxes expense? Income tax expense 10 [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 follow. Part 2 of 4 Debit Credit $ 14,000 $ 34,000 25,850 44,000 10 points 106,400 71,600 44,000 174,500 Skipped 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 tax expense 9. Cost of goods sold 18,250 20,000 998,000 52,000 16,000 eBook 34,000 23,25 ? 482,500 Print References 2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income tax expense? 2c. What is the amount of income from continuing operations? Complete this question by entering your answers in the tabs below. Reg 2A Reg 2B Reg 20 What is the amount of income from continuing operations? Income from continuing operations after taxes
