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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 ($ in 000s) In addition, during the year the
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 ($ in 000s) In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.7 million and a gain on disposal of the component's assets of $4.2 million. 600,000 shares of common stock were outstanding throughout 2016. Income tax expense has not yet been recorded. The income tax rate is 40% 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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