Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Debit Credit 15,188 $ $ 35,1ee 26,95 45,1ee 187,5ee 72,7ee 45.180 176,700 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 4. Cost of goods sold 19,350 30,220 1,889,5ee 53,100 17,100 39,500 24,850 493,500 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 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 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 28 Req 2c What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the three item labeled pretax 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 Reg 2B Req 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 pretax. 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? Income from continuing operations after taxes Debit $ Credit 15,1ee $ 35,180 26,950 45, 10e 107,5ee 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 1. Loss from operating a discontinued segment (pretax) 1. 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 9. Cost of goods sold 72,700 45, 109 176,700 19,35e 30,220 1,809,500 53,100 17,100 39,500 24,850 493,500 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