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The Aztec Book Company sold 3,000 finance textbooks to High Tuition College for $65 each in 2015. These books cost $51 to produce. In addition,

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The Aztec Book Company sold 3,000 finance textbooks to High Tuition College for $65 each in 2015. These books cost $51 to produce. In addition, Aztec Books spent $8,000 (selling expense) to persuade the college to buy its books. Aztec Books borrowed $70,000 on January 1, 2015, on which it paid 10 percent interest. Both interest and principal were paid on December 31, 2015. Aztec Books' tax rate is 20 percent. Amortization expense for the year was $5,000. a. Prepare the income statement for the year. (Input all answers as positive values.) AZTEC BOOK COMPANY Income Statement For the Year Ended December 31, 2015 (Click to select) (Click to select) (Click to select) (Click to select) Click to selec) Click to select) (Click to seled) Click to select) Click to select) Click to select) b. Did Aztec Books make a profit in 2015? Yes No

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