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Mathematics, 07.02.2021 02:40 megamorph

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow.
Debit
Credit
$ 14,200
$ 34,200
26,050
44,200
106,600
71,800
44,200
174,900
a. Interest revenue
b. Depreciation expense-Equipment
C. Loss on sale of equipment
d. Accounts payable
e. Other operating expenses
f. Accumulated depreciation-Equipment
8. Gain from settlement of lawsuit
h. Accumulated depreciation-Buildings
i. Loss from operating a discontinued segment (pretax)
. Gain on insurance recovery of tornado damage
k. Net sales
1. Depreciation expense-Buildings
m. 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 expense
9. Cost of goods sold
18,450
29,320
1,000, 500
52,200
16,200
35,000
23,950
?
484,500
Assume that the company's income tax rate is 30% for all items. Compute the tax effects and after-tax amounts of the three items
labeled pretax
2a. What is the amount of income from continuing operations before income taxes?


Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar

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