Suppose you manage Campbell Appliance. The store's summarized financial statements for 2019, 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 sales 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.

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CAMPBELL APPLIANCE Income Statement Year Ended December 31, 2019 S 800,000 Net Sales Revenue Cost of Goods Sold 660,000 140,000 Gross Profit 100,000 Operating Expenses 5 40,000 Net Income CAMPBELL APPLIANCE Balance Sheet December 31, 2019 Liabilities and Stockholders' Equity Assets $ 35,000 $ 30,000 Accounts Payable 75,000 Note Payable 360,000 Total Liabilities Stockholders' Equity Cash Inventories 280,000 Land and Buildings, Net 315,000 150,000 $ 465,000 Total Liabilities and Stockholders' Equity $ 465,000 Total Assets