the income tax rate is 30% for all items.

Required information Problem 17-6AA Income statement computations and format LO A2 The following information applies to the questions displayed below 31, 2017, follow account balances from the adjusted trial baiance for Olinda Corporation as of its calendar year-end December a. Interest revenue b. Depreciation expense-Equipment. c. Loss on sale of equipment d. Accounts payable s 35,900 27,750 45,900 108,300 f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings 73,500 45,900 i. Loss from operating a discontinued segment (preta) 20,158 j. Gain on insurance recovery of tornado damage k. Net sales 1. Depreciation expense-Buildings 31,820 1,017,580 53,900 17,980 m. Correction of overstatement of prior years sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) o. Loss from settlement of lawsuit 25,6se43,s00 q. Cost of goods sold 501,500 Problem 17-6 Part 4 iation expens s 35,900 27,758 c. Loss on sale of equipment d. Accounts payable e. Other operating expenses 45,900 g. Gain from settlement of lawsuit dings i. Loss from operating a discont inued segment (pretax) j. Gain on k. Net sales 28,158 recovery of tornado damage 1,017,580 ation 53,900 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 taxes expense q. Cost of goods sold 25,65843,588 501,580 Problem 17-6 Part 4 4. What is the amount of net income for the year? but not entirely correct. s 388 420 o search