jishnusainadhmachiraju

jishnusainadhmachiraju

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Jishnusai MachirajuVignan's Foundation for Science, Technology and Research

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Answer: The correct answer is: Job order and process cost systems.
Answer: The correct answer is: Job order cost and process cost systems.
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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2018 ($ in 000s): Net sales $ 21,000 Cost of goods sold $ 12,000 Interest income 230 Selling and administrative expenses 2,800 Interest expense 410 Restructuring costs 1,100 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $1.9 million and a gain on disposal of the component’s assets of $2.6 million. 600,000 shares of common stock were outstanding throughout 2018. Income tax expense has not yet been recorded. The income tax rate is 40% 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.)

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.)

This is what I was able to get so far:

sales revenue 21000
cost of goods sold 12000
gross profit 9000
operating expense:
selling & administrative 2800
restructuring cost 1100
3900
operating income 5100
interest income (expense), net (180)
income from continuing operations before income tax 4920
income from continuing operations 4920
discontinued operations
income from operations of discontinued component
income tax expense
income from discontinued operations
net income
earnings per share
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