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! Required Information [The following Information applies to the questions displayed below.] Selected account balances from the adjusted trial balance for Olinda Corporation as
! Required Information [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. 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 Debit Credit $ 15,500 $ 35,500 27,350 45,500 107,900 73,100 45,500 177,500 19,750 30,620 1,013,500 53,500 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 17,500 41,500 25,250 p. Income tax expense q. Cost of goods sold ? 497,500 3. What is the total amount of after-tax Income (loss) associated with the discontinued segment? After-tax income from discontinued segment
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