STU Publishers prints and sells books. Financial transactions for 2023 are as follows:

Transactions (in $ millions)	Amount
Cash Sales	70.0
Credit Sales	30.0
Cash Payments	50.0
Accounts Receivable	20.0
Printing Costs	40.0
Estimated Unsold Inventory	10.0

Requirements:

• Prepare STU Publishers' income statement for 2023 using the modified cash basis.
• Calculate net income considering the conservatism principle.
• Discuss the impact of estimated unsold inventory on financial statements.
• Analyze the treatment of accounts receivable and printing costs under the conservatism principle.