Problem $13-6$AA $($Algo$)$ Income statement computations and format LO A$2$

The following information applies to the questions displayed beiow$]$

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year$-$end December $31$

follow. Assume that the company's income tax rate is $30\%$ for all items

a$.$ Interest revenue

b$.$ Depreciation expense$-$Equipment

c$.$ Loss on sale of equipment

d$.$ Accounts payable equipmen

e$.$ Other operating expenses

f$.$ Accumulated depreciation$-$Equipment

g$.$ Gain from settlenent of lawsuit

h$.$ Accumulated depreciation$-$Building

i$.$ Loss fram operating a discontinued segnent $($pretax$)$

Gain on insurance recovery of tornado damage

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 settlenent of lawsuit

p$.$ Incone tax expense

q$.$ Cost of goods sold

Problem $13-6$AA $($Algo$)$ Part $2$

$2$a$.$ What is the amount of income from continuing operations before income taxes?

$2$b$.$ What is the amount of the income tax expense?

$2$c$.$ What is the amount of income from continuing operations?

Complete this question by entering your answers in the tabs below

Req $2$A

Req $2B$

Req $2C$

What is the amount of income from continuing operations before income taxes?

Income from continuing operations before taxes $$Problem $13-6$AA $($Algo$)$ Income statement computations and format LO A$2$

The following information applies to the questions displayed beiow$]$

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year$-$end December $31$

follow. Assume that the company's income tax rate is $30\%$ for all items

a$.$ Interest revenue

b$.$ Depreciation expense$-$Equipment

c$.$ Loss on sale of equipment

d$.$ Accounts payable equipmen

e$.$ Other operating expenses

f$.$ Accumulated depreciation$-$Equipment

g$.$ Gain from settlenent of lawsuit

h$.$ Accumulated depreciation$-$Building

i$.$ Loss fram operating a discontinued segnent $($pretax$)$

Gain on insurance recovery of tornado damage

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 settlenent of lawsuit

p$.$ Incone tax expense

q$.$ Cost of goods sold

Problem $13-6$AA $($Algo$)$ Part $2$

$2$a$.$ What is the amount of income from continuing operations before income taxes?

$2$b$.$ What is the amount of the income tax expense?

$2$c$.$ What is the amount of income from continuing operations?

Complete this question by entering your answers in the tabs below

Req $2$A

Req $2B$

Req $2C$

What is the amount of income from continuing operations before income taxes?

Income from continuing operations before taxes $$