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, 2017, follow. Debit $ Credit 15,600 $ 35,600 27,450 45,600 108,000 73,200 45,600 177,700 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 taxes expense 9. Cost of goods sold 19,850 30,720 1,014,500 53,600 17,600 42,000 25, 350 498,500 Problem 17-6 Part 2 2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income taxes 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 Req 2c What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes 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, 2017, follow. Debit $ Credit 15,600 $ 35,600 27,450 45,600 108,000 73,200 45,600 177,700 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 taxes expense 9. Cost of goods sold 19,850 30,720 1,014,500 53,600 17,600 42,000 25, 350 498,500 Problem 17-6 Part 2 2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income taxes 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 2B Req 2c What is the amount of the income taxes expense? Income taxes expense 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, 2017, follow. Debit $ Credit 15,600 $ 35,600 27,450 45,600 108,000 73,200 45,600 177,700 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 taxes expense 9. Cost of goods sold 19,850 30,720 1,014,500 53,600 17,600 42,000 25, 350 498,500 Problem 17-6 Part 2 2a. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income taxes 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 Req 2c What is the amount of income from continuing operations?.................... Income from continuing operations after taxes
