You are the Controller for Charleston Distribution. Your boss, the CFO, is working with the Board of Director's Finance committee to develop a new bonus compensation plan designed to increase company profits. As part of that effort, you have been asked to develop a draft proposal for goals for the sales organization. You need to create 3 annual goals for the Sales Vice President. The VP can receive a bonus of 35% of base salary if the goals are fully achieved. You also need to create 3 annual goals for the Sales Representatives. The Sales Reps each can receive a bonus of 15% of base salary if their personal goals are fully achieved. You have collected the following data to use to develop the goals. Charleston Distributors Gross Sales Cost of Goods Sold Gross Profit Gross Profit % Industry Ave GP% Sales % Increase in 2018 2018 S 8,450,700 2.7% 6,760,560 $ 1,690,140 20.0% 28.4% Sales % Increase in 2017 2017 S 8,230,500 10.3% 5,761,350 $ 2,469,150 30.0% 28.2% Sales % Increase in 2016 2016 $ 7,458,900 15.8% 5,668,764 S 1,790,136 24.0% 28.0% Sales Rep Headcount Average Sales per Rep 25 338,028 23 357,848 19 392,574 S S S S S S Company Net Income Net Income as % of Gross Sales Company Earnings per Share 736,876 8.7% 0.87 732,515 8.9% 0.86 723,513 9.7% 0.80 S S S Individual Sales Rep Data Available in Detailed Reports: Gross Sales S Gross Profit % on Sales Sales Returns S & % REQUIRED: Evaluate the data above and write 3 appropriate, measurable, annual goals for each of the two types of positions the Vice President, a top company executive, in charge of the sales team and ultimately responsible for total sales and gross profit, and the Sales Representatives each responsible for the sales they generate and the gross profit on those sales. The goals should be 2-4 sentences each stating Specific, Measurable, Achievable, Relevant, and Time-bound details (SMART goals) as we discussed in class for clarity. You are the Controller for Charleston Distribution. Your boss, the CFO, is working with the Board of Director's Finance committee to develop a new bonus compensation plan designed to increase company profits. As part of that effort, you have been asked to develop a draft proposal for goals for the sales organization. You need to create 3 annual goals for the Sales Vice President. The VP can receive a bonus of 35% of base salary if the goals are fully achieved. You also need to create 3 annual goals for the Sales Representatives. The Sales Reps each can receive a bonus of 15% of base salary if their personal goals are fully achieved. You have collected the following data to use to develop the goals. Charleston Distributors Gross Sales Cost of Goods Sold Gross Profit Gross Profit % Industry Ave GP% Sales % Increase in 2018 2018 S 8,450,700 2.7% 6,760,560 $ 1,690,140 20.0% 28.4% Sales % Increase in 2017 2017 S 8,230,500 10.3% 5,761,350 $ 2,469,150 30.0% 28.2% Sales % Increase in 2016 2016 $ 7,458,900 15.8% 5,668,764 S 1,790,136 24.0% 28.0% Sales Rep Headcount Average Sales per Rep 25 338,028 23 357,848 19 392,574 S S S S S S Company Net Income Net Income as % of Gross Sales Company Earnings per Share 736,876 8.7% 0.87 732,515 8.9% 0.86 723,513 9.7% 0.80 S S S Individual Sales Rep Data Available in Detailed Reports: Gross Sales S Gross Profit % on Sales Sales Returns S & % REQUIRED: Evaluate the data above and write 3 appropriate, measurable, annual goals for each of the two types of positions the Vice President, a top company executive, in charge of the sales team and ultimately responsible for total sales and gross profit, and the Sales Representatives each responsible for the sales they generate and the gross profit on those sales. The goals should be 2-4 sentences each stating Specific, Measurable, Achievable, Relevant, and Time-bound details (SMART goals) as we discussed in class for clarity