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, 2016, 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, 2016, for $86,000 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 2016 that have not yet been reflected in the above accounts:

A fire caused $59,000 in uninsured damages to the main office building. The fire was considered to be an infrequent but not unusual event.

Inventory that had cost $49,000 had become obsolete because a competitor introduced a better product. The inventory was sold as for $9,000.

Prepare a multiple-step income statement for the Reed Company for 2016, showing 2015 information in comparative format, including income taxes computed at 30% and EPS disclosures assuming 700,000 shares of common stock. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)