Question
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue $ 25,000 Cost of
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands):
Sales revenue $ 25,000
Cost of goods sold $ 14,000
Selling and administrative expense 3,200
Interest expense 440
Dividend Revenue from investment 200
In addition,
1. the company incurred a Restructuring costs 1,500
2. During the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.4 million and a gain on disposal of the components assets of $3.4 million.
3. The company has unrealized gain from investment of $200
4. Negative foreign currency translation $600
Income tax expense has not yet been recorded. The income tax rate is 40% on all items of income (loss). 700,000 shares of common stock were outstanding throughout 2021.
Prepare the Statement of comprehensive income
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