Rembrandt Paint Company had the following income statement items for the year ended December 31, 2024 ($
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Rembrandt Paint Company had the following income statement items for the year ended December 31, 2024 ($ in thousands): Sales revenue $ 18,000 Cost of goods sold $ 10,500 Interest revenue 100 Selling and administrative expense 2,500 Interest expense 300 Restructuring costs 800 In addition, during the year, the company completed the disposal of its plastics business and incurred a loss from operations of $1.6 million and a gain on disposal of the component's assets of $2 million. There were 500,000 shares of common stock outstanding throughout 2024. Income tax expense has not yet been recorded. The income tax rate is 25% on all items of income (loss).
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