Problem $17-6$AA $($Algo$)$ Income statement computations and format LO A$2$

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.

DebitCredita.Interest revenue$$$ $15,500$b$.$Depreciation expense$$Equipment$ $35,500$c$.$Loss on sale of equipment$27,350$d$.$Accounts payable$45,500$e$.$Other operating expenses$107,900$f$.$Accumulated depreciation$$Equipment$73,100$g$.$Gain from settlement of lawsuit$45,500$h$.$Accumulated depreciation$$Buildings$177,500$i$.$Loss from operating a discontinued segment $($pretax$)19,750$j$.$Gain on insurance recovery of tornado damage$30,620$k$.$Net sales$1,013,500$l$.$Depreciation expense$$Buildings$53,500$m$.$Correction of overstatement of prior year$$s sales $($pretax$)17,500$n$.$Gain on sale of discontinued segment$$s assets $($pretax$)41,500$o$.$Loss from settlement of lawsuit$25,250$p$.$Income tax expense?$$q$.$Cost of goods sold$497,500$

$2$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?