[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.

Debit Credit
a. Interest revenue $ 15,300
b. Depreciation expense—Equipment $ 35,300
c. Loss on sale of equipment 27,150
d. Accounts payable 45,300
e. Other operating expenses 107,700
f. Accumulated depreciation—Equipment 72,900
g. Gain from settlement of lawsuit 45,300
h. Accumulated depreciation—Buildings 177,100
i. Loss from operating a discontinued segment (pretax) 19,550
j. Gain on insurance recovery of tornado damage 30,420
k. Net sales 1,011,500
l. Depreciation expense—Buildings 53,300
m. Correction of overstatement of prior year’s sales (pretax) 17,300
n. Gain on sale of discontinued segment’s assets (pretax) 40,500
o. Loss from settlement of lawsuit 25,050
p. Income tax expense ?
q. Cost of goods sold 495,500
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?