Transcribed Image Text: REMBRANDT PAINT COMPANY Income statement items, year ended 12/31/2021 (S in thousands): Sales revenue $ 18,000 Interest revenue 100 Interest expense Cost of goods sold Selling and

Transcribed Image Text: REMBRANDT PAINT COMPANY
Income statement items,
year ended 12/31/2021 (S in thousands):
Sales revenue
$
18,000
Interest revenue
100
Interest expense
Cost of goods sold
Selling and administrative expense
Restructuring costs
300
10,500
2,500
800
Loss from operations on plastics business
Gain on disposal of component’s assets
Shares of common stock outstanding in 2021
$ 1,600,000
$ 2,000,000
500,000
Income tax rate
25%
%24 Transcribed Image Text: ($ in thousands, except per share amounts)
Sales revenue
Cost of goods sold
Gross profit
Operating expenses:
Selling and administrative expense
Restructuring costs
Operating income
Other income (expense):
Interest revenue
Interest expense
Other income, net
Income from continuing operations before income taxes
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 from discontinued operations
500 shares
Net income

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