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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
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): In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.5 million and a gain on disposal of the component's assets of $3.8 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 Indleated with e minus sign. Enter your answers In thousands except earnings per share. Round EPS answers to 2 declmal pleces.)
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