Question

Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands):

Can someone check what I'm doing wrong. Thanks

$ Income Statement For the year ended December 31, 2021 ($ in thousands, except per share amounts) Sales Revenue Cost of goods sold Gross profit Operating expense Advertising expense $ Depreciation expense Salaries expense Restructuring cost 18,000 10,500 7,500 3,300 700 600 1,200 800 4,200 (200) 3 4 5 6 7 8 9 REMBRANDT PAINT COMPANY 10 11 Income statement items, 12 year ended 12/31/2021 (Ś in thousands): 13 Sales revenue 14 Interest revenue 15 Interest expense 16 Cost of goods sold 17 Advertising expense 18 Salaries expense 19 Depreciation expense 20 Dividend income 21 Restructuring costs 22 Loss on selling equipment 23 Loss from operations on plastics business 24 Gain on disposal of the assets of plastics business 25 Shares of common stock outstanding in 2021 26 Income tax rate 27 28 29 30 31 32 33 18000 100 300 10500 700 1200 600 200 800 200 1600 2000 Operating Income Other income (expense) Interest expense Interest revenue Dividend income Loss (Gain) on selling equipment (300) 100 200 (200) 500000 Income before income taxes Income tax expense Income (Loss) from discontinued operations Income tax expense Net Income 4,000 1,000 (1,200) 1,500 300 0.25 Earnings per share Net income $ 0.6000

This is what you can see when you open the yellow box

Answer 1

			Income statement
			for the year ended 31 Dec 2021
			($ in thousands)
			$
	Sales		18000
	Cost of goods sold	10500
	Gross Margin	7500
	Operating Expenses
	Advertising expense	700
	Salaries expense	1200
	Depreciation expense	600
	Operating Income	5000
	Other income and expenses
	interest revenue	100
	Interest expense	-300
	Dividend income	200
	Restructuring cost	-800
	loss on selling equipment	-200
	Income before taxes	4000
	gain on asset disposal of plastic	2000
	loss from operation of plastic unit	-1600
	INCOME BEFORE TAX	4400
	Less: tax .25	1100
	Net income after tax=	3300
	share capital	500000
	earning per share	3300/500000=.0066