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

Interest revenue

14,000

Depreciation expense-Equipment.

34,000

Loss on sale of equipment

25,850

Accounts payable

44,000

Other operating expenses

106,400

Accumulated depreciation-Equipment

71,600

Gain from settlement of lawsuit

44,000

Accumulated depreciation-Buildings

174,500

Loss from operating a discontinued segment (pretax)

18,250

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

29,120

Net sales

998,500

Depreciation expense-Buildings

52,000

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

16,000

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

34,000

Loss from settlement of lawsuit

23,750

Income taxes expense

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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