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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 calendar year-end

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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 calendar year-end December 31 follow Debit $ Credit 14,880 $ 34,800 26,650 44,800 107,200 72,400 44,800 176, 100 3. 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 1. Loss from operating a discontinued segment (pretax) 3. 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 (pretox) o. Loss from settlement of lawsuit P. Income tax expense a. Cost of goods sold 19,050 29,920 1,005,500 52,888 16,800 38,000 24,550 490,500 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 26. 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. Red 2A Req 2B Reg 2C What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes Reg 20 > 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 20. 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. Red 2A Reg 25 Reg 20 What is the amount of the income tax expense? Income tax expense 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 pretex 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. Reg 2A Reg 28 Reg 20 What is the amount of income from continuing operations? Income from continuing operations afte axes

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