Can you help me figure out how to compute starting at question 2/ Selected account balances from the…

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					$	15,700
b.	Depreciation expense Equipment.		$	35,700
c.	Loss on sale of equipment			27,550
d.	Accounts payable						45,700
e.	Other operating expenses			108,100
f.	Accumulated depreciation Equipment						73,300
g.	Gain from settlement of lawsuit						45,700
h.	Accumulated depreciation Buildings						177,900
i.	Loss from operating a discontinued segment (pretax)			19,950
j.	Gain on insurance recovery of tornado damage (pretax and extraordinary)						30,820
k.	Net sales						1,015,500
l.	Depreciation expense Buildings			53,700
m.	Correction of overstatement of prior year s sales (pretax)			17,700
n.	Gain on sale of discontinued segment s assets (pretax)						42,500
o.	Loss from settlement of lawsuit			25,450
p.	Income taxes expense
q.	Cost of goods sold			499,500

references

Section Break

Problem 13-6AA Income statement computations and format LO A2

Problem 13-6AA Part 1

Required:
1.	Assume that the company s income tax rate is 40% for all items. Compute the tax effects and after-tax amounts of the four items labeled pretax. (Loss amounts should be indicated with a minus sign.)

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