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theirs also the income on discontinued operations and net income please help mr full thlse Rembrandt Paint Company had the following income statement items for
theirs also the income on discontinued operations and net income please help mr full thlse
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021($ in thousands) Sales revenue Interest revenue Interest expense $ 38,000 cost of goods sold see selling and administrative expense 700 Restructuring costs $ 20,500 4,500 2,300 In addition during the year the company completed the disposal of its plastics business and incurred a loss from operations of $3.6 million and a gain on disposal of the component's assets of $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.) REMBRANDT PAINT COMPANY Income Statement For the Year Ended December 31, 2021 15 in thousands, except per share amounts) $ Sales revenue Cost of goods sold Gross profit Operating expenses 38.000 20.500 17.500 17,500 Gross promt Operating expenses Selling and administrative expenses Restructuring costs 4,500 2,800 B 7,300 10,200 Operating income Other income (expense): Interest revenue 500 700 Other income, net Income from continuing operations before income taxes 1,200 9,000 Income from continuing operations Discontinued operations 9.000 0 Income on discontinued operations Net income Earnings per share $ 9,000 Income on discontinued operations Step by Step Solution
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