Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Debit $ Credit 14,200 $ 34,200 26,050 44,200 106,600 71,800 44,200 174,900 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 tax expense q. Cost of goods sold 18,450 29,320 1,000,500 52,200 16,200 35,000 23,950 2 484,500 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 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. Req 2A Req 2B Req 2c What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes 3. What is the total amount of after-tax income (loss) associated with the discontinued segment? After-tax income from discontinued segment 4. What is the amount of net income for the year? Net income