! Required information 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. 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 Debit Credit $ 15,200 $ 35,200 27,050 45,200 107,600 72,800 45,200 176,900 19,450 30,320 1,010,500 1. Depreciation expense-Buildings m. Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) 53,200 17,200 40,000 o. Loss from settlement of lawsuit p. Income tax expense 24,950 ? q. Cost of goods sold 494,500