Using the following information for a periodic inventory system, what is the amount of income from operations? 
Definitions:
Stimulate Innovation
Encourages the development of new ideas, products, or processes to improve efficiency, effectiveness, or competitive advantage.
Infringe on Innovation
To infringe on innovation means to impose restrictions or barriers that limit the development and implementation of new ideas, technologies, or processes.
Pharmaceutical Industry
A sector of the health care system that discovers, develops, produces, and markets drugs or pharmaceuticals for use as medications.
Creative Destruction
A concept in economics which suggests that new innovations destroy old industries and create new economic structures.
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