Add image to featured posts on front page

I have a theme that has “featured posts” on the front page. Currently those featured posts only show some of the text from that post. What I want to do is also show the image from the post.

Here is the code:

<td id="td-app-featured-post">
    <div id="app-featured-post">
	<h3>
            <?php _e( 'Featured Post', 'app_post' ); ?>
        </h3>
        <span class="app-pagination">
            <a id="cafe-post-banner-prev" class="prev"></a>
            <p id="pagefeature">1 <?php _e( 'of', 'app_post' ); ?> 1</p>
            <a id="cafe-post-banner-next" class="next"></a>
        </span>
        <?php
            global $options;
            foreach ($options as $value) {
                if (get_settings($value['id']) === FALSE) {
                    $$value['id'] = $value['std'];
                    } else {
                        $$value['id'] = get_settings($value['id']);
                    }
                }
                if (empty($wpc_no_feat_post_index)) {
                    $wpc_no_feat_post_index = "3";
                }
        ?>
    <?php
    /* To display featured posts */
    $wpc_no_feat_post_index =trim($wpc_no_feat_post_index);
    $querystr = "
SELECT $wpdb->posts.*
FROM $wpdb->posts, $wpdb->postmeta
WHERE $wpdb->posts.ID = $wpdb->postmeta.post_id
AND $wpdb->postmeta.meta_key = '_is_featured'
AND $wpdb->postmeta.meta_value = 'yes'
AND $wpdb->posts.post_status = 'publish'
AND $wpdb->posts.post_type = 'post'
ORDER BY $wpdb->posts.post_date DESC LIMIT $wpc_no_feat_post_index";

    $pageposts = $wpdb->get_results($querystr, OBJECT);
    $wpc_no_feat_post_perpage = trim($wpc_no_feat_post_perpage);    

    if ($pageposts):
    ?>
    <div class="app-featured-news slideshow">
        <?php global $post; ?>
        <?php $inc = 1;
        foreach ($pageposts as $post): ?>
        <?php setup_postdata($post); ?>
        <?php //{?>
        <?php if ($inc == 1 || $inc % $wpc_no_feat_post_perpage == 1) {
        ?>
            <ul style="position:relative;">
        <?php } ?>
            <li class="post" id="post-<?php the_ID(); ?>">
                <h2>
                    <?php
                    echo '<span class="app-index-category">';
                    the_category(', ');
                    echo '</span><span class="app-category-arrow"></span>';
                    ?>
                    <a class="app-index-title" href="<?php the_permalink() ?> " >
                        <?php
                        $tit = the_title('', '', FALSE);
                        echo substr($tit, 0, 55);
                        if (strlen($tit) > 55)
                            echo " ...";
                        ?>

                </h2>
                <div class="app-date"><?php the_time('M, jS Y') ?></div>
                    <div class="entry">

                    <?php
			//Display the post content text
			$postContent = substr(strip_tags($post->post_content), 0, 100);
                        if (strlen($post->post_content) > 100) {
                            $postContent .= '...';
                        }
                        echo $postContent;
                    ?>

		</a>
                    </div>
                    <div class="readmore">
                    <a href="<?php the_permalink() ?>">
                        <?php comments_popup_link('Comments', 'Comments', 'Comments'); ?>
                    </a>
                </div>
            </li>
            <?php if ($inc % $wpc_no_feat_post_perpage == 0 || count($pageposts) == $inc) {
            ?>
                            </ul>
            <?php } ?>
            <?php $inc++;
                    endforeach; ?>
                    </div>
            <?php endif; ?>
        </div>
</td>

I think I need to include something like this…

//Display the post image
  $postImage =
  <img alt="" src="<?php echo $postImage; ?>" width="298" height="" />

to this…

<?php
  //Display the post content text
  $postContent = substr(strip_tags($post->post_content), 0, 100);
  if (strlen($post->post_content) > 100) {
    $postContent .= '...';
  }
  echo $postContent;
?>

Can someone help me figure this out?

Thanks