Rembrandt Paint Company had the following income statement itemsfor the year ended December 31, 2013 ($ in 000s):
Net sales $ 32,000 Cost of goods sold $ 17,500 Interest income 340 Selling and administrative expenses 3,900 Interest expense 630 Restructuring costs 2,200 Extraordinary gain 4,400
In addition, during the yearthe company completed the disposal of its plastics business and incurred aloss from operations of $3.0 million and a gain on disposal of thecomponent
Rembrandt Paint Company had the following income statement itemsfor the year ended December 31, 2013 ($ in 000s): |
| Net sales | $ | 32,000 | Cost of goods sold | $ | 17,500 |
| Interest income | 340 | Selling and administrative expenses | 3,900 | ||
| Interest expense | 630 | Restructuring costs | 2,200 | ||
| Extraordinary gain | 4,400 | ||||
In addition, during the yearthe company completed the disposal of its plastics business and incurred aloss from operations of $3.0 million and a gain on disposal of thecomponent |
Related questions
Rembrandt Paint Company had the following income statement itemsfor the year ended December 31, 2016 ($ in 000s): |
| Net sales | $ | 34,000 | Cost of goodssold | $ | 18,500 |
| Interest income | 360 | Selling andadministrative expenses | 4,100 | ||
| Interestexpense | 670 | Restructuringcosts | 2,400 | ||
In addition, during the yearthe company completed the disposal of its plastics business andincurred a loss from operations of $3.2 million and a gain ondisposal of the componentâs assets of $5.2 million. 600,000 sharesof common stock were outstanding throughout 2016. Income taxexpense has not yet been recorded. The income tax rate is 40% onall items of income (loss). |
| Required: |
Prepare a multiple-step income statement for 2016, including EPSdisclosures. (Amounts to be deducted should be indicatedwith a minus sign. Enter your answers in thousands except earningsper share. Round EPS answers to 2 decimalplaces.) |
