The profit and loss statement of Kitsch Ltd., an S corporation, shows $100,000 book income. Kitsch is owned equally by four shareholders From supplemental data, you obtain the following information about items that are included in book income. Selling expenses Tax-exempt interest income ($21,200) 3,000 Dividends received 9,000 1231 gain 7,000 Depreciation recapture income 11,000 Net income from passive real estate rentals 5,000 Long-term capital loss (6,000) Salary paid to owners (each) (12,000) Cost of goods sold (91,000) a. Compute Kitsch's nonseparately stated income or loss for the tax year. The entity's nonseparately stated i Feedback is $