Required information Problem 17-6AA 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 follow Debit $ Credit 15,600 $35.600 27,450 45,500 100,000 73.200 45,600 127.700 a. Interest revenue b. Depreciation expense-Equipment c. Loon on sale of equipment d. Accounts payable 6. Other operating expenses 1. Accumulated depreciation Equipment 9. Cain from settlement of luit h. Accumulated depreciation-buildings 1. Los from operating discontinued as (pretax) 3. Goin on Laurance recovery of tornado desage k. Net sale 1. Depreciation expense-Boldings m. Correction of overtatement of prior year's sales protax) nonin one of discontinued toota (protax) 0. Lons from settlement of wait p. Then tax expense 9. Cost of goods wold 19,50 30,220 1.014,500 53,600 17,600 42.000 25,350 498,500 Problem 17-6AA Part 1 Required: 1. Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the three Items labeled pretax Pretax 30% Tax Effect After-Tax Loss from operating a discontinued segment Correction of overstatement of prior year's sales Gain on sale of discontinued segment's assets Problem 17-6AA Part 2 Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after tax amounts of the three items labeled pretax 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 28 Reg 20 What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes Problem 17-6AA Part 2 Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the three items labeled pretax 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. 03 Reg 2A RAG 21 Red 2 What is the amount of the income tax expense? Income tax expense Problem 17-6AA Part 2 Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the three items labeled pretax. 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 Req 28 Reg 2C What is the amount of income from continuing operations? Income from continuing operations after taxes