8. The Aztec Book Company sold 1,400 finance textbooks to High Tuition College for $84 each in 20XX. These books cost $63 to produce. In addition, Aztec Books spent $2.000 (selling expense) to persuade the college to buy its books. Aztec Books borrowed $50,000 on January 1, 20XX, on which it paid 10 percent interest. Both interest and principal were paid on December 31, 20XX Aztec Books' tax rate is 20 percent. Amortization expense for the year was $5.000. Did Aztec Books make a profit in 20XX? Verify your answer with an income statement presented in good form. ignment: 1. Problem 8 (page 55) with the following hints and additions: The books cost $63 each to produce. Receipt of the principal of a loan is not revenue (it is a liability), and repayment of the principal of a loan is not an expense (it is a reduction of the liability). Interest on the loan is an expense. Also calculate earnings per share, assuming no preferred shares and 1,000 common shares. Calculate the amount of common dividend per share if the dividend payout ratio was 75%. If Aztec's P/E rat was 4X, calculate the market price of each common share. Calculate the after-tax cost of their selling expense