Selected information about income statement accounts for the Reed Company is presented below $($the company's fiscal year ends on December $31)$:On July $1,2021,$ the company adopted a plan to discontinue a division that quallfles as a component of an entity as defined by GAAP. The assets of the component were sold on September $30,2021,$ for $\backslash (\backslash$$ $60,000\backslash )$ less than their book value. Results of operations for the component $($included in the above account balances$)$ were as follows: In addition to the account balances above, several events occurred during $2021$ that have not yet been reflected in the above accounts: $1.$ A fire caused $\backslash (\backslash$$ $53,000\backslash )$ in uninsured damages to the main office building. The fire was considered to be an unusual event. $2.$ Inventory that had cost $\backslash (\backslash$$ $43,000\backslash )$ had become obsolete because a competitor introduced a better product. The inventory was written down to its scrap value of $\backslash (\backslash$$ $6,000\backslash ).3.$ Income taxes have not yet been recorded. Required: Prepare a multiple$-$step income statement for the Reed Company for $2021,$ showing $2020$ information in comparative format, including income taxes computed at $\backslash (25\backslash \%\backslash )$ and EPS disclosures assuming $400,000$ shares of outstanding common stock. $($Amounts to be deducted should be indicated with a minus sign. Round EPS answers to $2$ decimal places.$)/$r$/$n