Make multiple-step income statement including eps disclosure

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Reference no: EM132648342

Rembrandt Paint Company had the following income statement items for the year ended December 31, 2018 ($ in 000s):

Net sales $18,000

Cost of goods sold $10,500

Interest income 200

Selling and administrative expenses 2,500

Interest expense 350

Restructuring costs 800

In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $1.6 million and a gain on disposal of the component's assets of $2 million. 500,000 shares of common stock were outstanding throughout 2018. Income tax expense has not yet been recorded. The income tax rate is 30% on all items of income (loss).

Problem 1: Make a multiple-step income statement for 2018, including EPS disclosures. (Any amounts to be deducted, including expenses, should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.)

Reference no: EM132648342

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