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Serenity Garden Inc. produces and sells a variety of garden accessories. One of the product lines the company makes isunpainted gnome statues that come in three sizes: small, medium,and large. The company is considering painting the gnomes. The following information is available regarding unpainted and painted gnomes:
Small
Medium
Large
Initial sales price
$40
$60
$80
Initial cost
15
20
23
Sales price after painting
49
70
95
Cost of painting
8
12
16
Number sold per year
500
1,000
400
Refer to the Serenity Garden Inc. information above. Whichgnomes, if any, should be painted? Explain your answer.
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