arf. $(30$ points$)$ A multiple$-$step income statement. The following partial list of pre$-$tax account balances $($in dollar$)$ were taken from the year$-$end pre$-$

closing trial balance of

In addition, it is also known and not yet reflected in above accounts that:

$(1)$ In October $2024,$ the company adopted a plan to discontinue and sell one of its business components $-$ Division D$.$ The net assets of this componentent were sold on of its business $\frac{12}{6}\frac{?}{2024}$ for $$125,000.$ Its book value of the net assets, at the time of the disposal, was $$140,000.$ It is also known that during $2024,$ Division D$,$ pre$-$tax, generated sales of $$35,000$ while incurred costs and expenses of $$55,000.$

$(2)$ The company was subject to a $20\%$ income tax rate.

Required $1$: $(28$ points$)$ Based on above information, prepare, on next page, a multiple$-$step income statement $($ignore the earnings per share section$),$ in a good format, for Garden Co$.$ for year $2024.$ Round your calculations to two decimal places, if needed.

Required $2$: $(2$ points$)$ If you were a financial analyst, how would you use the prepared income statement to forecast this company's net income for $2025?$ Briefly explain.

$[$Continued on next page$]$

Garden Co$.$

Incume Statement

For the ycar ended on $12/31/2024$