QUICK HELP NEEDED: Need to show most recent post instead of Page!

Hey Guys,
So I am editing one portion of the Spacious Theme, where I need to show the recent post instead of the page. I want this to be displayed in the same manner, just that it should have the post title, post excerpt and post thumbnail resized.

Can someone please look into this code for me and recommend changes? Would really appreciate all the help.

/**
* Featured Single page widget.
*
*/
class spacious_featured_single_page_widget extends WP_Widget {
     function spacious_featured_single_page_widget() {
         $widget_ops = array( 'classname' => 'widget_featured_single_post', 'description' => __( 'Display Featured Single Page', 'spacious' ) );
        $control_ops = array( 'width' => 200, 'height' =>250 );
        parent::WP_Widget( false, $name='TG: Featured Single Page', $widget_ops, $control_ops);
     }

     function form( $instance ) {
         $instance = wp_parse_args( (array) $instance, array( 'page_id' => '', 'title' => '', 'disable_feature_image' => 0, 'image_position' => 'above' ) );
        $title = esc_attr( $instance[ 'title' ] );
        $page_id = absint( $instance[ 'page_id' ] );
        $disable_feature_image = $instance['disable_feature_image'] ? 'checked="checked"' : '';
        $image_position = $instance[ 'image_position' ];
        _e( 'Suitable for Home Top Sidebar, Home Bottom Left Sidebar and Side Sidbar.', 'spacious' );
    ?>
        <p>
            <label for="<?php echo $this->get_field_id('title'); ?>"><?php _e( 'Title:', 'spacious' ); ?></label>
            <input id="<?php echo $this->get_field_id('title'); ?>" name="<?php echo $this->get_field_name('title'); ?>" type="text" value="<?php echo $title; ?>" />
        </p>
        <p><?php _e( 'Displays the title of the Page if title input is empty.', 'spacious' ); ?></p>

        <p>
            <label for="<?php echo $this->get_field_id( 'page_id' ); ?>"><?php _e( 'Page', 'spacious' ); ?>:</label>
            <?php wp_dropdown_pages( array( 'name' => $this->get_field_name( 'page_id' ), 'selected' => $instance['page_id'] ) ); ?>
        </p>
        <p>
            <input class="checkbox" type="checkbox" <?php echo $disable_feature_image; ?> id="<?php echo $this->get_field_id('disable_feature_image'); ?>" name="<?php echo $this->get_field_name('disable_feature_image'); ?>" /> <label for="<?php echo $this->get_field_id('disable_feature_image'); ?>"><?php _e( 'Remove Featured image', 'spacious' ); ?></label>
        </p>

        <?php if( $image_position == 'above' ) { ?> 
        <p>
            <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="above" style="" checked /><?php _e( 'Show Image Before Title', 'spacious' );?><br /> 
            <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="below" style="" /><?php _e( 'Show Image After Title', 'spacious' );?><br />             
        </p> 
        <?php } else { ?>
        <p>  
            <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="above" style="" /><?php _e( 'Show Image Before Title', 'spacious' );?><br /> 
            <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="below" style="" checked /><?php _e( 'Show Image After Title', 'spacious' );?><br />             
        </p> 
        <?php } ?>

    <?php
    }

    function update( $new_instance, $old_instance ) {
        $instance = $old_instance;
        $instance[ 'title' ] = strip_tags( $new_instance[ 'title' ] );
        $instance[ 'page_id' ] = absint( $new_instance[ 'page_id' ] );
        $instance[ 'disable_feature_image' ] = isset( $new_instance[ 'disable_feature_image' ] ) ? 1 : 0;
        $instance[ 'image_position' ] = $new_instance[ 'image_position' ];

        return $instance;
    }

    function widget( $args, $instance ) {
         extract( $args );
         extract( $instance );
         global $post;
         $title = isset( $instance[ 'title' ] ) ? $instance[ 'title' ] : '';
         $page_id = isset( $instance[ 'page_id' ] ) ? $instance[ 'page_id' ] : '';
         $disable_feature_image = !empty( $instance[ 'disable_feature_image' ] ) ? 'true' : 'false';
         $image_position = isset( $instance[ 'image_position' ] ) ? $instance[ 'image_position' ] : 'above' ;

         if( $page_id ) {
             $the_query = new WP_Query( 'page_id='.$page_id );
             while( $the_query->have_posts() ):$the_query->the_post();
                 $page_name = get_the_title();
            
             $output = $before_widget;
             if( $image_position == "below" ) {
                 if( $title ): $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$title.'">'. $title .'</a>'.$after_title;
                 else: $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$page_name.'">'. $page_name .'</a>'.$after_title;
                 endif;
             }
             if( has_post_thumbnail() && $disable_feature_image != "true" ) {
                 $output.= '<div class="service-image">'.get_the_post_thumbnail( $post->ID, 'featured', array( 'title' => esc_attr( $page_name ), 'alt' => esc_attr( $page_name ) ) ).'</div>';
             }

             if( $image_position == "above" ) {
                 if( $title ): $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$title.'">'. $title .'</a>'.$after_title;
                 else: $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$page_name.'">'. $page_name .'</a>'.$after_title;
                 endif;
             }
            $output .= '<p>'.get_the_excerpt().'...'.'</p>';
            $output .= '<a class="read-more" href="'. get_permalink() .'">'.__( 'Read more', 'spacious' ).'</a>';
             $output .= $after_widget;
             endwhile;
             // Reset Post Data
             wp_reset_postdata();
             echo $output;
         }
        
     }
}

Code (markup):

 

Try this

/**
/**
* Featured Single page widget.
*
*/
class spacious_featured_single_page_widget extends WP_Widget {
  function spacious_featured_single_page_widget() {
  $widget_ops = array( 'classname' => 'widget_featured_single_post', 'description' => __( 'Display Featured Single Page', 'spacious' ) );
  $control_ops = array( 'width' => 200, 'height' =>250 );
  parent::WP_Widget( false, $name='TG: Featured Single Page', $widget_ops, $control_ops);
  }
  function form( $instance ) {
  $instance = wp_parse_args( (array) $instance, array( 'page_id' => '', 'title' => '', 'disable_feature_image' => 0, 'image_position' => 'above' ) );
  $title = esc_attr( $instance[ 'title' ] );
  $page_id = absint( $instance[ 'page_id' ] );
  $disable_feature_image = $instance['disable_feature_image'] ? 'checked="checked"' : '';
  $image_position = $instance[ 'image_position' ];
  _e( 'Suitable for Home Top Sidebar, Home Bottom Left Sidebar and Side Sidbar.', 'spacious' );
  ?>
  <p>
  <label for="<?php echo $this->get_field_id('title'); ?>"><?php _e( 'Title:', 'spacious' ); ?></label>
  <input id="<?php echo $this->get_field_id('title'); ?>" name="<?php echo $this->get_field_name('title'); ?>" type="text" value="<?php echo $title; ?>" />
  </p>
  <p><?php _e( 'Displays the title of the Page if title input is empty.', 'spacious' ); ?></p>
  <p>
  <label for="<?php echo $this->get_field_id( 'page_id' ); ?>"><?php _e( 'Page', 'spacious' ); ?>:</label>
  <?php wp_dropdown_pages( array( 'name' => $this->get_field_name( 'page_id' ), 'selected' => $instance['page_id'] ) ); ?>
  </p>
  <p>
  <input class="checkbox" type="checkbox" <?php echo $disable_feature_image; ?> id="<?php echo $this->get_field_id('disable_feature_image'); ?>" name="<?php echo $this->get_field_name('disable_feature_image'); ?>" /> <label for="<?php echo $this->get_field_id('disable_feature_image'); ?>"><?php _e( 'Remove Featured image', 'spacious' ); ?></label>
  </p>
  <?php if( $image_position == 'above' ) { ?>
  <p>
  <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="above" style="" checked /><?php _e( 'Show Image Before Title', 'spacious' );?><br />
  <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="below" style="" /><?php _e( 'Show Image After Title', 'spacious' );?><br />   
  </p>
  <?php } else { ?>
  <p>  
  <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="above" style="" /><?php _e( 'Show Image Before Title', 'spacious' );?><br />
  <input type="radio" id="<?php echo $this->get_field_id( 'image_position' ); ?>" name="<?php echo $this->get_field_name( 'image_position' ); ?>" value="below" style="" checked /><?php _e( 'Show Image After Title', 'spacious' );?><br />   
  </p>
  <?php } ?>
  <?php
  }
  function update( $new_instance, $old_instance ) {
  $instance = $old_instance;
  $instance[ 'title' ] = strip_tags( $new_instance[ 'title' ] );
  $instance[ 'page_id' ] = absint( $new_instance[ 'page_id' ] );
  $instance[ 'disable_feature_image' ] = isset( $new_instance[ 'disable_feature_image' ] ) ? 1 : 0;
  $instance[ 'image_position' ] = $new_instance[ 'image_position' ];
  return $instance;
  }
  function widget( $args, $instance ) {
  extract( $args );
  extract( $instance );
  global $post;
  $title = isset( $instance[ 'title' ] ) ? $instance[ 'title' ] : '';
  $page_id = isset( $instance[ 'page_id' ] ) ? $instance[ 'page_id' ] : '';
  $disable_feature_image = !empty( $instance[ 'disable_feature_image' ] ) ? 'true' : 'false';
  $image_position = isset( $instance[ 'image_position' ] ) ? $instance[ 'image_position' ] : 'above' ;
  //if( $page_id ) {
       
       $latest_post_args = array(
  'numberposts'  => 1,
  'orderby'  => 'post_date',
  'order'  => 'DESC',
  'post_status'  => 'publish'
  );
  $the_query = new WP_Query( $latest_post_args );
  while( $the_query->have_posts() ):$the_query->the_post();
  $page_name = get_the_title();
   
  $output = $before_widget;
  if( $image_position == "below" ) {
  if( $title ): $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$title.'">'. $title .'</a>'.$after_title;
  else: $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$page_name.'">'. $page_name .'</a>'.$after_title;
  endif;
  }
  if( has_post_thumbnail() && $disable_feature_image != "true" ) {
  $output.= '<div class="service-image">'.get_the_post_thumbnail( $post->ID, 'featured', array( 'title' => esc_attr( $page_name ), 'alt' => esc_attr( $page_name ) ) ).'</div>';
  }
  if( $image_position == "above" ) {
  if( $title ): $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$title.'">'. $title .'</a>'.$after_title;
  else: $output .= $before_title.'<a href="' . get_permalink() . '" title="'.$page_name.'">'. $page_name .'</a>'.$after_title;
  endif;
  }
  $output .= '<p>'.get_the_excerpt().'...'.'</p>';
  $output .= '<a class="read-more" href="'. get_permalink() .'">'.__( 'Read more', 'spacious' ).'</a>';
  $output .= $after_widget;
  endwhile;
  // Reset Post Data
  wp_reset_postdata();
  echo $output;
  //}
   
  }
}

PHP: