Prepare a multiple-step income statement for 2013 including

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Reference no: EM13574972

Rembrandt Paint Company had the following income statement items for the year ended December 31, 2013 ($ in 000s):

Net sales

20,000

Cost of goods sold

11,500

Interest income

220

Selling and administrative expenses

2,700

Interest expense

390

Restructuring costs

1,000

Extraordinary gain

3,200

In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $1.8 million and a gain on disposal of the component's assets of $2.4 million. 600,000 shares of common stock were outstanding throughout 2013. Income tax expense has not yet been accrued. The income tax rate is 40% on all items of income (loss).

Required:

Prepare a multiple-step income statement for 2013, 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.)

Reference no: EM13574972

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