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Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS (LO4-1, 4-3, 4-4,4-5) Rembrandt Paint Company had the following income statement items for the year ended

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Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS (LO4-1, 4-3, 4-4,4-5) Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 24,000 220 420 Cost of goods sold Selling and administrative expense 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 $3.2 million. 600,000 shares of common stock were outstanding throughout 2021. Income tax expense has not yet been recorded. The income tax rate is 25% on all items of income (loss). Required: Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.) ($ in thousands, except per share amounts) Gross profit Operating expenses: 0 0 Operating income Other income (expense): Other income, net 0 Income from continuing operations before income taxes 0 0 Income from continuing operations Discontinued operations: 0 Income on discontinued operations Net income Earnings per share $ 0 Net income

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