B D E PICCASO PAINT COMPANY Income statement items year ended 12/31/2021 ($ in thousands before tax): Sales revenue $ 25,000 Interest revenue 500 Cost of goods sold 12,900 Advertising expense 700 Salaries expense 1,200 Depreciation expense 450 Dividend income 200 Loss on selling equipment 200 Loss from operations on plastics business 3,500 Gain on selling foreign currency 150 Loss on foreign currency translation 1,100 Gain on disposal of the assets of plastics business 3,000 Shares of common stock outstanding in 2021 500,000 Income tax rate 0.25 the following multi-step income statement using the information provided. PICASSO PAINT COMPANY Comprehensive Income Statement For the year ended December 31, 2021 (S in thousands, except per share amounts) Sales Revenue Cost of goods sold Gross profit Operating expense Salaries expense depreciation expense Advertising expense $ $ 25,000 ($12,900) 37,900 (2,350) ($1,200) ($450) ($700) 40,250 17,800) Operating Income Other income (expense) Gain (loss) on selling equipment Income (Loss) from continuing operations Gain (loss) on foreign currency translation Income (Loss) from discontinued operations ($200) ($3,500) ($1,100) ($3,000) Income before Income taxes Income tax expense 32.450 8,113 650 Net Income Other Comprehensive income Interest revenue Gain (loss) on foreign currency transaction Comprehensive income Earnings per share Dividend income $500 $150 650 200.00 Net income 9