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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 21,000 160 360 Cost of goods sold Selling and administrative expense Restructuring costs $ 12,000 2,800 1,100 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $1.9 million and a gain on disposal of the component's assets of $2.6 million. 600,000 shares of common stock were outstanding throughout 2021. Income tax expense has not yet been recorded. The income tax rate is 25% on all items of income (loss). Required: Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.) X Answer is not complete. REMBRANDT PAINT COMPANY 21,000 ($ in thousands, except per share amounts) Sales revenue Cost of goods sold Gross profit Operating expenses: Selling and administrative expenses (12,000) 9,000 $ (2,800) (1,100) (3,900) 5,100 Restructuring costs Operating income Other income (expense): Interest expense (360) (360) 4,740 4,740 700 Other income, net Income from continuing operations before income taxes Income tax expense Income from continuing operations Discontinued operations: Income from operations of discontinued component Income tax expense Income on discontinued operations Net income Earnings per share: Income from continuing operations Income on discontinued operations 700 $ 5,440 00 Net income
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