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 40% for all items.

		Debit	Credit
a.	Interest revenue		$ 14,100
b.	Depreciation expenseEquipment	$ 34,100
c.	Loss on sale of equipment	25,950
d.	Accounts payable		44,100
e.	Other operating expenses	106,500
f.	Accumulated depreciationEquipment		71,700
g.	Gain from settlement of lawsuit		44,100
h.	Accumulated depreciationBuildings		174,700
i.	Loss from operating a discontinued segment (pretax)	18,350
j.	Gain on insurance recovery of tornado damage		29,220
k.	Net sales		999,500
l.	Depreciation expenseBuildings	52,100
m.	Correction of overstatement of prior years sales (pretax)	16,100
n.	Gain on sale of discontinued segments assets (pretax)		34,500
o.	Loss from settlement of lawsuit	23,850
p.	Income tax expense	?
q.	Cost of goods sold	483,500

Problem 17-6AA (Algo) Part 4

4. What is the amount of net income for the year?