Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 ($ in 000s): Net sales $ 12.500 2.900 17.38/22 points awarded $22,000 Cost of goods sold 240 Selling and administrative 240 expenses 430 Restructuring costs Interest income Interest expense Scored 1.200 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.0 million and a gain on disposal of the component's assets of $2.8 million. 600.000 shares of common stock were outstanding throughout 2016. Income tax expense has not yet been recorded. The income tax rate is 40% on all items of income (loss). Required: Prepare a multiple-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be Indicated with a minus slgn. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.) REMBRANDT PAINT COMPANY Income Statement For the Year Ended December 31, 2016 ($ in thousands, except per share amounts) 22.000 (12,500) 9,500 Sales revenue Cost of goods sold Gross profit Operating expenses Selling and administrative Restructuring costs 2.000) (1.200) (4.100 5,400 (430) 4,970 Total operating expenses Operating income Interest revenue Interest expense 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 Net income "Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. 0 0 0 0 0 0 0000000000000001 4.970