Question: Problem 4-6 (Static) Income statement presentation; discontinued operations; EPS [LO4-1, 4-3, 4-4, 4-5] Rembrandt Paint Company had the following income statement items for the year
Problem 4-6 (Static) Income statement presentation; discontinued operations; EPS [LO4-1, 4-3, 4-4, 4-5] Rembrandt Paint Company had the following income statement items for the year ended December 31,2024 ( $ in thousands): In addition, during the year, the company completed the disposal of its plastics business and incurred a loss from operations of $1.6 miltion 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). Required: Prepare a multiple-step income statement for 2024 , including EPS disclosures. Note: Amounts to be dedueted should be Indicated with a minus slgn. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places
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