Wayside Fruit Company is a sole proprietorship owned by Neil Stephenson. The company's records reflect the following:
Sales revenue ................... $185,000
Operating expenses ................ 125,000
Depreciation expense for book ........... 13,000
Cost recovery allowance for tax............ 17,500
Loss on the sale of delivery truck to Neil’s brother ..... 5,000
Amount paid to fruit inspector to overlook below-
standard fruit shipped to various vendors ........ 3,000
Compute the net income before tax for book purposes and the amount of taxable income for Wayside Fruit Company.