! Required information (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 14,700 $ 34,700 26,550 44,700 107,100 72,300 44,7001 175,900 a. Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable e. Other f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings ... - operating a discontinued segment (pretax) j. Gain on insurance recovery of tornado damage k. Net sales 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 ACCU from i. LOSS 18,950 29,820 1,005,5001 52,700 16,700 37,500 24,450 ? 489,500 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 Reg 20 What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes Reg 2A Req 2B Required information [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 14,7001 $ $ 34,700 26,550 44,700 107,100 72,300 44,700 175,900 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 18,950 29,820 1,005,5001 52,700 16,700 37,500 24,450 ? 489,500 3. What is the total amount of after-tax income (loss) associated with the discontinued segment? After-tax income from discontinued segment ! Required information [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 14,7001 $ 34,700 26,550 44,700 107,100 72,300 44,7001 175,900 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 18,950 29,820 1,005,500 52,700 16,700 37,500 24,450 ? 489,500 4. What is the amount of net income for the year? Net income
