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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 ($...

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Accounting

Rembrandt PaintCompany had the following income statement items for the year endedDecember 31, 2016 ($ in 000s):







  Netsales$20,000  Costof goods sold$11,500
  Interest income220  Selling and administrative expenses2,700
  Interest expense390  Restructuring costs1,000

      In addition, during the yearthe company completed the disposal of its plastics business andincurred a loss from operations of $1.8 million and a gain ondisposal of the component’s assets of $2.4 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 amultiple-step income statement for 2016, including EPS disclosures.(Amounts to be deducted should be indicated with aminus sign. Enter your answers in thousands except earnings pershare. Round EPS answers to 2decimal places.)

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