REED COMPANY
December 31
					2021	2020
Sales revenue					$4,400,000	$3,500,000
Cost of goods sold					2,860,000	2,000,000
Administrative expense					800,000	675,000
Selling expense					360,000	302,000
Interest revenue					150,000	140,000
Interest expense					200,000	200,000
Loss on sale of assets of discontinued component					48,000	-
					1/1/21 -
Results of operations for discontinued component (included above):					9/30/21	2020
Sales					$400,000	$500,000
Cost of goods sold					(290,000)	(320,000)
Administrative expense					(50,000)	(40,000)
Selling expenses					(20,000)	(20,000)
Operating income before taxes					$40,000	$120,000
Additional information:
Uninsured damage due to fire					$50,000
Cost of obsolete inventory					$40,000
Obsolete inventory sold for scrap					$5,000
Income tax rate					25%
Common stock shares					300,000

Prepare a multiple step income statement for the Reed Company for 2021, showing 2020 information in comparative format, including income taxes computed at 25% and EPS disclosures assuming 300,000 shares of outstanding common stock.