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Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Assume that the companys income tax

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Assume that the companys income tax rate is 30% for all items.

Debit Credit
a. Interest revenue $ 14,600
b. Depreciation expenseEquipment $ 34,600
c. Loss on sale of equipment 26,450
d. Accounts payable 44,600
e. Other operating expenses 107,000
f. Accumulated depreciationEquipment 72,200
g. Gain from settlement of lawsuit 44,600
h. Accumulated depreciationBuildings 175,700
i. Loss from operating a discontinued segment (pretax) 18,850
j. Gain on insurance recovery of tornado damage 29,720
k. Net sales 1,004,500
l. Depreciation expenseBuildings 52,600
m. Correction of overstatement of prior years sales (pretax) 16,600
n. Gain on sale of discontinued segments assets (pretax) 37,000
o. Loss from settlement of lawsuit 24,350
p. Income tax expense ?
q. Cost of goods sold 488,500

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?

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