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, 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 $72,000 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 occuired during 2024 that have not yet been reflected in the above accounts: 1. A fire caused $56.000 in uninsured damages to the main office building. The fire was considered to be an unusual event. 2. Inventory that had cost $46,000 had become obsolete because a competitor introduced a better product. The inventory was written down to its scrap value of $6,000 3. Income takes hive not yet been recorded. Required: Prepore 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 disciosures assuming 500.000 shares of outstanding common stock. REED COMPANY Comparative Income Statemonts For the Years Ended December 31 Operating expenses: Operating income Other income (expense): Income from continuing operations before income taxes Discontinued operations: Income (loss) from operations of discontinued component Net income Earnings per share