Question
3 Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): 14.28 Sales revenue $24,000
3 Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): 14.28 Sales revenue $24,000 Cost of goods sold Interest revenue 220 points Interest expense selling and administrative expense 420 Restructuring costs $13,500 3,100 1,400 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.2 million and a gain on disposal of the component's assets of $3.2 million. 600,000 shares of common stock were outstanding throughout 2021. Income tax expense has not yet been recorded. The income tax rate is 25% on all items of income (loss) Required: Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.) Answer is not complete. REMBRANDT PAINT COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands, except per share amounts) Sales revenue Cost of goods sold Gross profit Operating expenses: Selling and administrative expenses Restructuring costs 05 3,100 1,400 Operating Income Other income (expense) Interest revenue 24,000 13,500 10,500 4,500 6,000 0 220 Interest expense 0 (420) Other income, net (200)
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