! Required information Problem 17-6AA (Algo) 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 follow. Assume that the company's income tax rate is 40% for all items. Debit Credit 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 $ 15,400 $ 35,400 27,250 45,400 107,800 73,000 45,400 177,300 i. Loss from operating a discontinued segment (pretax) 19,650 j. Gain on insurance recovery of tornado damage k. Net sales 30,520 1,012,500 1. Depreciation expense-Buildings 53,400 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 17,400 41,000 p. Income tax expense 25,150 ? q. Cost of goods sold 496,500