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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 ($ in 000s): Net sales $33,000 18,000 $ Interest
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 ($ in 000s): Net sales $33,000 18,000 $ Interest income Cost of goods sold 350 Selling and administrative expenses 650 Restructuring costs 4,000 Interest expense 2,300 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $3.1 million and a gain on disposal of the component's assets of $5.0 million. 600,000 shares of common stock were outstanding throughout 2016. Income tax expense has not yet been recorded. The income tax rate is 40% on all items of income (loss). Required: Prepare a multiple-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.) REMBRANDT PAINT COMPANY Income Statement For the Year Ended December 31, 2016 ($ in thousands, except per share amounts) 0 0 0 0 0 0 Earnings per share
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