Suppose you manage Campbell Appliance. The store’s summarized financial statements for 2015, the most recent year, follow:
Assume that you need to double net income. To accomplish your goal, it will be very difficult to raise the prices you charge because there is a discount appliance store nearby. Also, you have little control over your cost of goods sold because the appliance manufacturers set the amount you must pay.
Identify several strategies for doubling net income.