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. Debit Credit a. Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable e. Other operating expenses f. Accumulated depreciation-Equipment $ 14,900 $ 34,900 26,750 44,900 107,300 72,500 g. Gain from settlement of lawsuit 44,900 h. Accumulated depreciation-Buildings 176,300 i. Loss from operating a discontinued segment (pretax) j. Gain on insurance recovery of tornado damage 19,150 k. Net sales 30,020 1,007,500 1. Depreciation expense-Buildings m. Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) 52,900 16,900 38,500 o. Loss from settlement of lawsuit p. Income tax expense 24,650 ? q. Cost of goods sold 491,500 2a. 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 2C What is the amount of income from continuing operations before income taxes? Income from continuing operations before taxes $ 329,300 Req 2B > < Req 2A 2a. 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 2C What is the amount of the income tax expense? Income tax expense $ 98,790 X < Req 2A Req 2C > 2a. 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 2C What is the amount of income from continuing operations? Income from continuing operations after taxes < Req 2B Req 2C >