On July 1,2024, the company odopted a plon to discontinue a division thot qualifies os a component of an entity as defined by GAAP. The assets of the component were sold on September 30,2024 , for $112.000 less than their book volue. Results of operations for the component (included in the above account balances) were as follows: In addition to the account balances above. several events occurred during 2024 that have not yet been reflected in the above. occounts: 1. A fire caused $66,000 in uninsured damoges to the main office building The fire wos considered to be an unusual event. 2. Inventory that had cost $56,000 had become obsolete because a competitor introduced a better product. The inventory wos written down to its scrap value of $7,000 3. Income toxes have not yet been recorded Required: Prepare a multiple-step income statement for the Reed Company for 2024, showing 2023 informotion in comparative format, including income toxes computed ot 25% and EPS disclosures assuming 500,000 shares of outstanding common stock: Note: Round EPS answers to 2 decimal places