Prairie Plant Company Supplied the Following Data at the End

question 78

Essay

Prairie Plant Company supplied the following data at the end of the current year: $\begin{array}{lr}\text { Sales commissions } & \$ 15,000 \\\text { Sales revenue } & 150,000 \\\text { Research and development } & 17,000 \\\text { Finished goods inventory, Jan. 1 } & 7,500\\\text { Work-in-process inventory, Jan } 1 & 9,000 \\\text { Finished goods inventory, Dec. } 31 & 6,000 \\\text { Work-in-process inventory, Dec. } 31 & 11,000 \\\text { Cost of goods manufactured } & 50,000\end{array}$ Required: Prepare an income statement for Prairie Plant Company.

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Definitions:

Nerve Conduction

The process by which electrical signals are transmitted through nerve fibers.

Afferent Nerves

Also called sensory nerves; nerves that carry information about the external environment to the brain and spinal cord via sensory receptors.

Electrochemical Messages

The method by which neurons communicate with each other, involving electrical signals and chemical neurotransmitter substances.

Olfactory

This term relates to the sense of smell.