Question

Rembrandt Paint Company had the following Income statement Items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 27,00€ 282 480 Cost of goods sold Selling and administrative expense Restructuring costs $ 15,000 3,400 1,7ee In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.5 million and a gain on disposal of the component's assets of $3.8 million. 600,000 shares of common stock were outstanding throughout 2021. Income tax expense has not yet been recorded. The Income tax rate is 25% on all items of Income (loss) Required: Prepare a multiple-step Income statement for 2021, Including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.) Answer is not complete REMBRANDT PAINT COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands, except per share amounts) Sales revenue 27.000 (15,000) 12.000 Cost of goods sold Gross profit Operating expenses: Selling and administrative expenses Restructuring costs $ 3.400 1,700 5.100 6.900 Operating income Other income (expense) Interest revenue Interest expense Other income, net Income from continuing operations before income taxes (480) (200) 6.700 1.675 5,025 Income tax expense Income from continuing operations Discontinued operations Income from operations of discontinued component Income tax expense Income on discontinued operations Net income Earnings per share: Income from continuing operations Income on discontinued operations Net income $ 5,025

Only need the values of income from operations of discontinued component, Income tax expense, income from continuing operations and income on discontinued operations. Thanks

Answer 1

Discontinued Operation
Income from operations of discontinued component (380-250)	$ 1,300.00
Income tax expense 1300*25%	$     325.00
Income on discontinued operations		$     975.00
Net Income		$ 6,000.00
Earnings per share:
Income on Continuing operations =Income from Continued operation/ no of Shares	8.38
Income on discontinued operations==Income from Discontinued operation/ no of Shares	1.63
Net Income		10.00