Write a business plan that will help Nikki to address the questions she has raised. Business plan should include: Identify the issue(s) Key success factors and Alternatives Strengths/weaknesses of the organization Analysis - quantitative and qualitative Conclusion and recommendations

C3-77 WaterDogs Inc. Nikki Castle started making lifejackets for dogs in her basement part-time 10 years ago after getting a puppy. She wanted to go canoeing but was unable to find a suitable lifejacket for her puppy, so she spent a couple of days fabricating something herself. When Nikki got to the canoe club, she was flooded with inquiries about her puppy's lifejacket, and she started taking orders. Ten years later, her company now has revenues of over $5,000,000 per year, and her lifejackets are sold in 45 different countries through her online store and in spe. cialty pet stores across North America. Before starting her business, Water Dogs, Inc., Nikki had been working in an insurance company as a clerk. She had always made her own clothes and had taken a few fashion design courses but did not have a business background. Beginning the company was chal- lenging, and over the first few years of getting her business going. Nikki also took a few online courses in business management and accounting. There were a couple of times that she thought the business wasn't going to make it-especially in the beginning when she experienced a lot of growth very quickly--but after six years she was confident enough with the organization to incorporate. She hires an accountant to look after the bookkeeping and goes through an audit each year, but doesn't feel as though the financial statements, and in particular the income statement, provide her with the right information for decision making 2019 4,880,000 2020 4,320,000 2021 5.355.000 Revenues Less cost of goods sold Beginning inventory Add: Cost of goods manufactured Cost of goods available for sale Less Ending inventory Cost of goods sold Gross profit Less: Operating expenses Selling and admin Operating income 2.600.000 3.230,000 5.830,000 3.520.700 2309 300 2,570,700 3.520,700 3.650 000 7,170,700 5322912 1.847783 2.472.217 5322917 4.175.000 9,497,917 7399.828 2098,089 3.256,911 1.608,000 962,700 1.587.000 885.217 1.514.700 1.512.211 Her income statements didn't seem to fit with what she felt the company was really doing. Yes, the company was growing, but not at the rate that the profit was demonstrating. Nikki thought. In particular, Nikki felt that 2020 had been a slump year, but the income statement doesn't seem to reflect that. She dug up some additional information on the com- pany and was looking at it when she decided she needed an advisor to help her. She didn't have enough knowledge to be able to figure out what to do 2018 Units beginning inventory Units produced Units sold 2019 70,000 100.000 61.000 2020 100.000 120,000 SL000 2021 175.000 145.000 63.000 90,000 Direct materials are $12 per unit, direct labour is 56 per unit, and variable manufactur- ing overhead is $3 per unit for each of the years. The company uses a FIFO inventory system Required. Write a business plan that will help Nikki address her questions