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Income statement presentation [L04-1, 4-3, 4-4, 4-5] Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 (exist in

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Income statement presentation [L04-1, 4-3, 4-4, 4-5] Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 (exist in 000s): In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of exist2.1 million and a gain on disposal of the components assets of exist3.0 million. 500,000 shares of common stock were outstanding throughout 2016. Income tax expense has not yet been recorded. The income tax rate is 30% on all items of income (loss). Required: Prepare a multiple-step income statement for 2016, 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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