Rembrandt Paint Company had the following income statement items for the year ended December 31, 2024 ($ in thousands):

In addition, during the year, the company completed the disposal of its plastics business and incurred a loss from operations of $1.6 million and a gain on disposal of the component’s assets of $2 million. There were 500,000 shares of common stock outstanding throughout 2024. 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 2024, including EPS disclosures. Use a multiple-step format similar to Illustration 4–4 of this chapter to prepare income from continuing operations, and then add to this the discontinued operations portion of the income statement.

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Sales revenue Interest revenue Interest expense Cost of goods sold Selling and administrative expense Restructuring costs $18,000 100 300 10,500 2,500 800