The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $17,700; cost of goods sold, $7,400; selling expenses, $1,420; general and administrative expenses, $920; interest revenue, $190; interest expense, $330. Income taxes have not yet been recorded. The companys income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the companys income statement every year. The companys controller, however, has asked for your help in determining the appropriate treatment of the following nonrecurring transactions that also occurred during 2021 ($ in thousands). All transactions are material in amount.

1. Investments were sold during the year at a loss of $340. Schembri also had an unrealized gain of $440 for the year on investments in debt securities that qualify as components of comprehensive income.
2. One of the companys factories was closed during the year. Restructuring costs incurred were $1,500.
3. During the year, Schembri completed the sale of one of its operating divisions that qualifies as a component of the entity according to GAAP. The division had incurred a loss from operations of $680 in 2021 prior to the sale, and its assets were sold at a gain of $1,640.
4. In 2021, the companys accountant discovered that depreciation expense in 2020 for the office building was understated by $320.
5. Negative foreign currency translation adjustment for the year totaled $360.

Required: 1. Prepare Schembris single, continuous multiple-step statement of comprehensive income for 2021, including earnings per share disclosures. One million shares of common stock were outstanding at the beginning of the year and an additional 400,000 shares were issued on July 1, 2021. 2. Prepare a separate statement of comprehensive income for 2021.

SCHEMBRI MANUFACTURING CORPORATION
Statement of Comprehensive Income
For the Year Ended December 31, 2021
($ in 000s)
Sales revenue		$17,700
Cost of goods sold		(7,400)
Gross profit		10,300
Operating expenses:
Selling expenses	$(1,420)
General and administrative expenses	(920)
Restructuring costs	(1,500)
Total operating expenses		(3,840)
Operating income
Other income (expense):
Loss on sale of investments	$(340)
Interest revenue	190
Interest expense	(330)
Other income, net		(480)
Income from continuing operations before income taxes		(480)
Income tax expense
Income from continuing operations		(480)
Discontinued operations:
Income from operations of discontinued component
Income tax expense
Income on discontinued operations		0
Net income		(480)
Other comprehensive income, net of tax:
Gain on debt securities
		0
Comprehensive income		$(480)
Earnings per share:
Income from continuing operations
Income on discontinued operations
Net income