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How do I calculate from Extraordinary gain and down for this multiple-step income statement? Rembrandt Paint Company had the following income statement items for the
How do I calculate from Extraordinary gain and down for this multiple-step income statement?
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2013 (5 in 000s) $ 12,500 $22,000 Cost of goods sold Net sales Interest income Interest expense Extraordinary gain3,400 2,900 1,200 Selling and administrative expenses 240 430 Restructuring costs In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.0 million and a gain on disposal of the component's assets of $2.8 million 600,000 shares of common stock were outstanding throughout 2013. Income tax expense has not yet been 600,000 shares of common stock were outstanding throughout 2013 Income tax expense has not yet been accrued The income tax rate is 40% on all items of income (loss) Required: Prepare a multiple-step income statement for 2013, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share Round EPS answers to 2 decimal places.) REMBRANDT PAINT COMPANY Income Statement For the Year Ended December 31, 2013 ($ in thousands, except per 22.00 (12,500 9.500 share amounts Sales revenue Cost of goods sold Gross profit (loss) Operating expenses Selling and administrative Restructuring costs 2.900)) 1,200) Operating income (loss) Interest income (expense), net income from continuing operations before income taxes and extraordinary item Income tax expense Income from continuing operations before extraordinary item (4, 100) 5,400 (190) 5 210 (2.084) Ask me anything Step by Step Solution
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