Jamie has taken over as new Controller of Pluto Enterprises Inc, a revolutionary education and entertainment business in BC. The company's Despite not having a strong accounting background, Jamie is looking to looking to lead the way in making some long overdue changes to the organization. He has been with Pluto for almost three years, so he has some ideas on how to improve processes.

Jamie's direct supervisor, Sosha, also doesn't have an accounting background. When the previous CFO retired suddenly last month, Sosha was immediately promoted to the Chief Financial Officer role. She, in turn, promoted Jamie, who had been in the finance department and had helped her with a few projects, to Controller. The Controller role was a new one created by Sosha to help deal with the company's growing accounting demands.

Since Sosha had worked as an administrative assistant to the previous CFO for five years, Jamie had assumed she was fit to take over, but he is wondering if perhaps the company is lacking accounting expertise/leadership. Seeing how the only other accounting employee in Pluto is Jenna, an Accounting Assistant working under him, Jamie wonders if an external candidate would be better suited for his Controller role.

Here are Pluto's income statements over the past three years:

Pluto Enterprises Ltd Income Statement For the Years Ended Dec 31, 2022, 2021, and 2020 2022 2021 2020 Sales Revenues $2,856,300 $2,635,600 $2,520,400 Operating Expenses: Cost of Sales 621,900 601,300 592,000 Salary 1,115,500 1,054,600 1,010,100 Rent 512,200 410,000 411,300 Depreciation 254,800 222,500 219,100 Utilities 151,400 126,700 116,800 Total Operating Expenses 2,655,800 2,415,100 2,349,300 Operating Profit 200,500 220,500 171,100 Interest expense 73,700 77,600 84,200 Net profit $126,800 $142,900 $86,900Pluto Enterprises Ltd Income Statement For the Quarters Ended Mar 31, June 30, Sep 30, and Dec 31, 2022 Q1 Q2 Q3 Q4 Sales Revenues $587,900 $598,100 $1,078,100 $592,200 Operating Expenses: Cost of Sales 101,900 101,700 316,800 101,500 Salary 201,200 204,300 504,400 205,600 Rent 125,000 125,000 137,200 125,000 Depreciation 55,200 57,100 86,500 56,000 Utilities 30,200 31,100 57,500 32,600 Total Operating Expenses 513,500 519,200 1,102,400 520,700 Operating Profit 74,400 78,900 (24,300) 71,500 Interest expense 19,800 18,900 17,900 17,100 Net profit $54,600 $60,000 ($42 200) 54.400