The following selected information is taken from the records of Sel Tec Corporation. Accounts payable... Accounts receivable Advertising expense.. Cash Supplies expense. Rent expense.. $ 25,000 49,000 7,500 15,500 23,000 5,000 1,500 Income taxes (30% of income before taxes) 7 2,200 125,000 88,000 242,000 Utilities expense. Miscellaneous expense Owners' equity. Salaries expense Fees (revenues) 1. Prepare an income statement for the year ended December 31, 2000. (Assume that 5,000 shares of stock are outstanding.) 2. Explain what the EPS ratio tells the reader about Sel Tec Corporation.