Selected information about income statement accounts for the Reed Company is presented below (the compony's fiscal year ends on December 3i]: On July 1, 2024, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30,2024 , for $64,000 less than their book value. 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 refiected in the above occounts: 1. A fire caused $54,000 in uninsured damoges to the main office building. The fire was considered to be an unusual event. 2. Inventory that had cost $44,000 had become obsolete because a competitor introduced a better product. The inventory was written down to its scrap value of $7,000 3. Income taxes have not yet been recorded. Required: Prepere a multiple-step income statement for the Reed Company for 2024, shoming 2023 information in comparative format, including income taxes computed at 25% and EPS disclosures assuming 500.000 shares of outstanding common stock. Note: Round EPS answers to 2 decimal places. Required: Prepare a multiple-step income statement for the Reed Company for 2024, showing 2023 information in comparative format, including income taxes computed at 25% and EPS disclosures assuming 500,000 shares of outstanding common stock. Note: Round EPS answers to 2 decimal places