Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year

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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 qualifies as a component of an entity as defined by
GAAP. The assets of the component were sold on September 30, 2021,
for $112,000 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 2021 that have not yet been reflected in the above
accounts:
Required:
Prepare a multiple-step income statement for the Reed Company for
2021, showing 2020 information in comparative format, including
income taxes computed at 25% and EPS disclosures assuming 500,000
shares of outstanding common stock. (Amounts to be
deducted should be indicated with a minus sign. Round EPS answers
to 2 decimal places.)