Rembrandt Paint Company had the following income statement items for the year ended December 31,...
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Accounting
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands):
| Sales revenue | $ | 19,000 | Cost of goods sold | $ | 11,000 |
| Interest revenue | 120 | Selling and administrative expense | 2,600 | ||
| Interest expense | 320 | Restructuring costs | 900 | ||
In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $1.7 million and a gain on disposal of the components assets of $2.2 million. 400,000 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: Prepare 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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