Required information [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 40% for all items. a. Interest revenue b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable. e. Other operating expenses f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings i. Loss from operating a discontinued segment (pretax) j. 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 q. Cost of goods sold 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? Debit $ 34,100 25,950 106,500 18,350 52,100 16,100 23,850 ? 483,500 Credit $ 14,100 44,100 71,700 44,100 174,700 29,220 999,500 34,500

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Select the letter of the item below that best matches the definitions that follow. a. Data Files CD ________  b. Lists ________  c. Forms ________  d. Registers ________  e. Reports and graphs ________  f. Restoring a backup ________  g. Icon bar ________  h. Home page ________  i. Backing up a file ________   1. One click access to QuickBooks Accountant Centers and Home page. 2. The process of rebuilding a backup file to a full QuickBooks Accountant file ready for additional input. 3. Electronic representations of paper documents used to record business activities such as customer invoices, vendor bills, and checks. 4. A big-picture approach of how your essential business tasks fit together organized by logical groups such as customers, vendors, and employees. 5. Groups of names such as customers, vendors, employees, items, and accounts. 6. Contains backups of all the practice files needed for chapter work and completion of assignments. 7.  The process of creating a copy of a…

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