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Selected account balances from the adjusted trial balance

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Reference no: EM13567789

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year end December 31, 2013, follow.
Debit Credit
a. Interest revenue




$ 14,000
b. Depreciation expense-Equipment.
$ 34,000




c. Loss on sale of equipment

25,850




d. Accounts payable





44,000
e. Other operating expenses

106,400




f. Accumulated depreciation-Equipment





71,600
g. Gain from settlement of lawsuit





44,000
h. Accumulated depreciation-Buildings





174,500
i. Loss from operating a discontinued segment (pretax)

18,250




j. Gain on insurance recovery of tornado damage (pretax and extraordinary)





29,120
k. Net sales





998,500
l. Depreciation expense-Buildings

52,000




m. Correction of overstatement of prior year's sales (pretax)

16,000




n. Gain on sale of discontinued segment's assets (pretax)





34,000
o. Loss from settlement of lawsuit

23,750




p. Income taxes expense

          ?




q. Cost of goods sold

482,500






What is the amount of income from continuing operations before income taxes?


Reference no: EM13567789

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