2-6. The Reid Book Company sold 1,500 finance textbooks for $100 cach to High Tuition University in 2013. These books cost Reid $74 to produce. Reid spent $4,000 (selling expense) to convince the university to buy its books. In addition, Reid borrowed $50,000 on January 1, 2013, on which the company paid 10 percent interest. Both interest and principal of the loan were paid on December 31, 2013. Reid's tax rate is 25 percent. Depreciation expense for the year was $8,000. Did Reid Book Company make a profit in 2013? Please verify with an income statement presented in good form. (Profit or EAT-S16,500)