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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2018 ($ in 000s): Rembrandt Paint Company had the following
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2018 ($ in 000s):
Rembrandt Paint Company had the following income statement items for the year ended December 31 2018 ($ in 000s) Net sales 28,000 Cost of goods sold Interest income Interest expense $15,500 3,500 1,800 Selling and administrative expenses 300 550 Restructuring costs In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.6 million and a gain on disposal of the component's assets of $4.0 million. 700,000 shares of common stock were outstanding throughout 2018. Income tax expense has not yet been es recorded. The income tax rate is 30% on all items of income (loss) Required: Prepare a multiple-step income statement for 2018, 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 COMPAN Income Statement For the Year Ended December 31, 2018 $ in thousands, except per share amounts Earnings per shareStep by Step Solution
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