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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands):         Sales revenue$35,000Cost of goods sold$19,000Interest revenue 440Selling and administrative expense 4,200Interest expense 640Restructuring costs 2,500   In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $3

Accounting Sep 22, 2020

Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands):

 

      Sales revenue$35,000Cost of goods sold$19,000Interest revenue 440Selling and administrative expense 4,200Interest expense 640Restructuring costs 2,500

 

In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $3.3 million and a gain on disposal of the component's assets of $5.4 million. 700,000 shares of common stock were outstanding throughout 2021. Income tax expense has not yet been recorded. The income tax rate is 25% on all items of income (loss).

 

Required:

a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.)

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