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 Olincia Corporations of its calendar year-end December 31 follow. Assume that the company's income tax rate : 30% for all tems. Dobit Credit $ 15,200 $ 35,00 45,200 107,600 72,00 a. Interest revenue b. Depreciation expense-Equipment C. Loss on sale of equipment d. Accounts payable e. Other operating expenses f. Accumulated depreciation Equipment X. Gain frossettent of lawsuit 1. Accumulated depreciation Buildings 1. Loss from operating a discontinued segwont (protax) 1. Gain on insurance recovery of tornado damage k. Net sales des 1. Depreciation expense Buildings . Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) o. Loss from settlement of lawsuit P. Income Tax 4. Cost of goods sold 19,450 175.900 30,320 1,610, 500 53,200 17.20 24,95 494,500 Problem 17-6AA (Algo) Part 2 2. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income tax expense? 2. What is the amount of income from continuing operations: Complete this question by entering your answers in the tabs below. u , R28 R20 What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes Reg 2A Reg 28 > 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 Olinca Corporations of its calendar year-end December 31 follow. Assume that the company's income tax rate is 30% for all items. Dobit Credit $ 15,200 $ 35,20 27.50 45,200 107,600 f a. Interest b. Depreciation expense-Equipment CLOGS on sale of equipment d. Accounts payable Other operating expenses f. Accumulated depreciation Equipment X. Gain fron sottom of lawsuit 1. Accumulated depreciation Buildings 1. Loss from operating a discontinued sant (pretax 1. Gain on Insurance recovery of tornado danage k. 1 1. Depreciation expense Buildings 1. Correction of overstatement of prior year's sales (pretax) 11. Gain on sale of discontinued segont's assets (pretax) o. Loss from settlement of lawsuit P. Income tax experts 4. Cost of goods sold 19,452 72,00 45,200 176,000 30,320 1,618,500 Nut sales 53,200 17.20 48,200 24,95 494,500 Problem 17-6AA (Algo) Part 2 2. What is the amount of income from continuing operations before income taxes? 2b. What is the amount of the income tax expense? 2c. What is the amount of Income from continuing operations? Complete this question by entering your answers in the tabs below. R24 28 Rug 20 What is the amount of the income tax expense? Income tax exc Required information Problem 17-6AA (Algo) Income statement computations and format LO AZ [The following information applies to the questions displayed below.] Selected account balances from the adjusted trial balance for Olincia Corporations of its calendar year-end December 31 follow. Assume that the company's income tax rate : 30% for all items. Dobit Credit a. Interest revenue $ 15,00 b. Depreciation expense-Equipment $ 35,200 6. Los of equipment 27,asa d. Accounts payable 45,200 e. Other operating expenses f. Accumulated depreciation Equipment 8. Gain fron settint of lawsuit 72, M. Accumulated depreciation Buildings 45,202 from 175,00 19,450 (pretax) 1. Gain on insurance recovery of tornado danage 30,320 1,610,500 1. Depreciation expense Buildings 53,200 . Correction of overstatement of prior year's sales (pretax) 17.2 n. Gain on sale of discontinuand seront assets (pretax) o. Los from settlement of lawsuit 24,95 p. Income tax expense ? 4. Cost of goods sold 494, k. Not sales Problem 17-6AA (Algo) Part 2 2. What is the smount of income from continuing operations before income taxes? 2b. What is the amount of the income tax expense? 2. What is the amount of income from continuing operations? Complete this question by entering your answers in the tabs below. 2A Reg 28 20 What is the amount of income from continuing operations? Income from continuing operations sera