The following table shows the balances from various accounts in the adjusted trial balance for Unilink Telecom Corp. as of December 31, 2014:

Required
1. Assuming that the company€™s income tax rate is 30%, what are the tax effects and after-tax measures of the items labeled as pre-tax?
2. Prepare a multi-step income statement for the year ended December 31,2014.

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Debit Credit $ 28,800 100,800 f. Accumulated depreciation, equipment. . . 176,400 100,800 h. Cumulative effect of change in 151,200 392,400 i. Accumulated depreciation, buildings j. Loss from operating a discontinued operation (pre-tax). k. Gain on expropriation of land and building 46,800 68,400 2,329,200 I. Sales .. 129,600 n. Correction of overstatement of prior year's sales (pre-tax)..36,000 o. Gain on sale of discontinued operation's assets (pre-tax).. p. Loss from settling a lawsuit .....57,600 q. Income taxes expense.... 79,200