Selected information about income statement accounts for wedding DJ and florist Rhythm & Blooms is presented below (the company's fiscal year ends on December 31): Sales Cost of goods sold Administrative expenses Selling expenses Interest revenue Interest expense Loss on sale of assets of discontinued component 2022 2021 4,400.000 3,500,000 2,860.000 2.000.000 800.000 675.000 350,000 315,000 130,000 140,000 190.000 160.000 50,000 On July 1, 2022, 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, 2022 for $50,000 less than their book value. Results of operations for the component (included in the above account balances) were as follows: Sales Cost of goods sold Administrative expenses Selling expenses Operating income before taxes 1/1/22 9/30/22 400.000 2021 500,000 (290,000) (320,000) (50,000) (40,000) (20,000) (30,000) 40.000 110,000 In addition to the account balances above, several events occurred in 2022 that have not yet been reflected in the above accounts: 1. A fire caused $50,000 in uninsured damages to the main office building. The fire was considered to be an infrequent but not unusual event. 2. Inventory that had cost $40,000 had become obsolete because a competitor had introduced a better product. The inventory was sold as scrap for $5,000. 3. Income taxes have not yet been recorded. Required Prepare a multi-step income statement for Rhythm & Blooms for 2022 showing 2021 information in comparative format, including income taxes computed at 40% and EPS disclosures assuming 300,000 shares of common stock.