The following accounts appear on either the Income Statement (IS) or Balance Sheet (BS). In the space provided next to each account write the letters, IS or BS, that identify the statement on which the account appears. 
Definitions:
Crude Oil
Unprocessed petroleum, a natural fossil fuel consisting primarily of hydrocarbons.
Production of Gasoline
The industrial process of converting crude oil into gasoline, a primary fuel for vehicles, through various refining techniques.
Price of Gasoline
The cost per unit of gasoline, often influenced by oil prices, taxes, and supply-demand dynamics.
Marginal Revenue Product of Labor
The additional revenue generated by employing one more unit of labor, holding all other inputs constant.
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