Question 2. What is the amount of income from continuing operations before incom

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Question 2. What is the amount of income from continuing operations before income taxes ? Questions 2 continued What is the amount of the income taxes expense Question 2 continued WhAt is the amount of income from continuing operations Question 3 What is the total amount of after tax income (loss) associated with the discontinued segment Question 4 what is the amount of income (loss) before the extra ordinary items? Question 5 What is the amount of net income for the year

All questions use the information in the first picture presented Module 8 Homewor k-Chapter 13-Internet Explorer mheducation.com/hm.tpx?-0.634141612915652 1456765052383 e2to Principles of Accounting - ACC 202: AC 202 Jan-Mar 2016 connect. ACCOUNTING mework Chapter 13 Questions 1 -5 (of 5) Problem 13-6AA Income statement computations and format LO A2 The fotlowing information applies to the questions displayed below 1 Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year end December 31, 2013, follow Debit Credit s15.400 a Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d Accounts payable e Other operating expenses $ 35,400 27.250 45.400 107.800 . Accumulated depreciation-Equipment Gain from settlement of lawsuit Accumulated depreciation-Buildings 73.000 45.400 177.300 i Loss from operating a discontinued segment (pretax) Gain on insurance recovery of tornado damage (pretax and 19,650 extraordinary) 30.520 1 012.50o0 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 taxes expense a Cost of goods sold 53.400 17.40 25.150 496.50o 41 000 Reterences Section Break 5.00 points

Explanation / Answer

IncomeIncome statement

Particulars Amount

Sales = 1, 012, 500

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