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Stein Books Inc. sold 1, 900 finance textbooks for $250 each to High Tuition University in 2013. These books cost $210 to produce. Stein Books

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Stein Books Inc. sold 1, 900 finance textbooks for $250 each to High Tuition University in 2013. These books cost $210 to produce. Stein Books spent $12, 200 (selling expense) to convince the university to buy its books. Depredation expense for the year was $15, 200. In addition, Stein Books borrowed $104,000 on January 1, 2013, on which the company paid 12 percent interest. Both the interest and principal of the loan were paid on December 31, 2013. The publishing firms tax rote is 30 percent. Prepare an income statement for Stein Books Inc. (Input all amounts as positive values.)

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