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Required Assignment Seved Help S Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion 5 Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands) Sales revenue Interest revenue Interest expense $ 22,000 Cost of goods sold 180 Selling and administrative expense 380 Restructuring costs $ 12,500 2.900 1,200 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2 million and a gain on disposal of the component's assets of $2.8 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 (los) 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 pet share amounta) Sales revenue Cost of goods sold Gross prot Operating expenses Selling and administrative expenses Restructuring costs o0 22.000 (12.500) 0,500 olo (2.000) (1.200) (4.100) 9,500 Gross profit Operating expenses: Selling and administrative expenses Restructuring costs (2,900) (1,200) (4,100) 5,400 Operating income Other income (expense) 0 Other income, net Income from continuing operations before income taxes 5,400 5,400 Income from continuing operations Discontinued operations: 0 5,400 $ Income on discontinued operations Net income Earnings per share: Income from continuing operations Net income

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