Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year ends on December 31):

2024 2023
Sales revenue $ 4,450,000 $ 3,550,000
Cost of goods sold 2,870,000 2,010,000
Administrative expense 810,000 685,000
Selling expense 370,000 312,000
Interest revenue 151,000 141,000
Interest expense 202,000 202,000
Loss on sale of assets of discontinued component 52,000 —
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 $52,000 less than their book value. Results of operations for the component (included in the above account balances) were as follows:

1/1/2024–9/30/2024 2023
Sales revenue $ 410,000 $ 510,000
Cost of goods sold (295,000) (326,000)
Administrative expense (51,000) (41,000)
Selling expense (21,000) (21,000)
Operating income before taxes $ 43,000 $ 122,000
In addition to the account balances above, several events occurred during 2024 that have not yet been reflected in the above accounts:

A fire caused $51,000 in uninsured damages to the main office building. The fire was considered to be an unusual event.
Inventory that had cost $41,000 had become obsolete because a competitor introduced a better product. The inventory was written down to its scrap value of $5,000.
Income taxes have not yet been recorded.
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 400,000 shares of outstanding common stock.

Note: Round EPS answers to 2 decimal places.