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[ The following information applies to the questions displayed below. ] Selected account balances from the adjusted trial balance for Olinda Corporation as of its

[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. Assume that the company's income tax rate is 30% for all items.
Required:
Compute the tax effects and after-tax amounts of the three items labeled pretax.
\table[[,Pretax,30% Tax Effect,After-Tax],[Loss from operating a discontinued segment,20,150,6,045,14,105],[Correction of overstatement of prior year's sales,17,900,5,370,.12,530],[Gain on sale of discontinued segment's assets,43,500,13,050,30,450]]What is the amount of income from continuing operations before income taxes?Req 2A
Req 2B
Req 2C
What is the amount of the income tax expense?
Income tax expense
$,107,196What is the amount of income from continuing operations?What is the amount of net income for the year?
Answer is complete but not entirely correct.
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