I done it like you said with the book
I normaly wear 34" lenght pants cause 33" isnt avaible
according to Schwinn for seat proper adjustment
you should raise the seat untill your leg is slightly bent with the pedle down
and you siting on the seat , then when you sit on the seat you should not be able to stand flat footed , you should have to slightly tiptoe
this is not possable for me with a 22" frame unless I have an extra long seat post