Problem 17-6AA (Algo) Income statement computations and format LO A2 [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. Assume that the company's Income tax rate is 30% for all items Debit Credit a. Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable e. Other operating expenses $ 15,600 $ 35,600 27,450 45,600 108,000 F. Accumulated depreciation-Equipment 73,2001 E. Gain from settlement of lawsuit 45,600 h. Accumulated depreciation-Buildings 177,7001 1. Loss from operating a discontinued segment (pretax) 19,850 1. Gain on insurance recovery of tornado damage k. Net sales 30,720 1,014,500 1. Depreciation expense-Buildings 53,600 Correction of overstatement of prior year's sales (pretax) 17,600 n. Gain on sale of discontinued segment's assets (pretax) o. Loss fron settlement of lausuit 42,000 25,350 p. Income tax expense Q. Cost of goods sold 498,500 Problem 17-6AA (Algo) Part 2