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Rembrandt Paint Company had the following income statement items for the year ended December 3 1 , 2 0 1 6 ( $ in 0

Rembrandt Paint Company had the following income statement items for the year ended December 31,2016($ in 000s):
Net sales $ 31,000 Cost of goods sold $ 17,000
Interest income 330 Selling and administrative expenses 3,800
Interest expense 610 Restructuring costs 2,100
In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.9 million and a gain on disposal of the components assets of $4.6 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).

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