Mr. Krabs notices that Plankton has changed the Chum Bucket into a gift shop and worries that Plankton is up to something. Mr. Krabs spends time with Plankton and finds out he has changed. Mr. Krabs decides to give Plankton the Krabby Patty formula but after that, Plankton reverts back to his old self, causing viewers to believe it was just a very convoluted plan to get the formula. Mr. Krabs, who never let his guard down, actually gave Plankton a piece of paper that said “Gotcha! Love, Krabs”.

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Mr. Krabs decides to install a wishing well at the Krusty Krab and he makes SpongeBob go in to it to get the money. Patrick falls in and, with nothing else to do, they dig towards the “magic” which will supposedly grant the wishes. Squidward falls in, too, and when he gets pulled out he wishes to be far away from SpongeBob and he is promptly hit by a bus going “Very Very Far Away”. SpongeBob tries to tell Mr. Krabs that magic just happened but he will not believe him. Mr. Krabs plays around with SpongeBob and wishes he was steamed and served with a side of butter, and it comes true.

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SpongeBob has to make a “monster krabby patty,” but when he tries to, his spatula (named Spat) breaks. SpongeBob feels upset, until he notices a new spatula, called Le Spatula. He had to pay all of the money in his pocket and five piggy banks, as well as Gary’s diamond, his house, and his pants. Le Spatula runs away because he won’t cook the “slop” that is a Krabby Patty. Now SpongeBob realizes that he’s betrayed Spat’s loyalty. He tries to apologize to Spat. He does not accept him and SpongeBob cries himself to work, when he returns to work Spat forgives him. He has to cook another “monster krabby patty” resulting in his arms falling off.

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SpongeBob receives an invitation to Karate Island so he can be crowned “King of Karate”. Sandy decides to go with him to the island. SpongeBob gets captured by a con man named Master Udon and Sandy goes to save him. When she gets to SpongeBob, she finds out that they were trying to make him buy a condo. SpongeBob says no to the offer and they go home. The ending scene shows Squidward arriving at the island to be crowned “King of Clarinets”. The episode was dedicated in memory of the Asian American actor Pat Morita, who played Master Udon.

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Pearl wants an excellent birthday party, but Mr. Krabs is too cheap to throw a successful one. Mr. Krabs sends SpongeBob to the mall to buy gifts for Pearl using his credit card. When SpongeBob gets back with gifts that costs a lot of money, Mr. Krabs freaks out, but Pearl loves him.

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The Chimpanzee beneficiaries of Sandy’s undersea treedome are paying a visit to see what progress she has made with her inventions. But Sandy doesn’t think any of her work will satisfy the chimps, and if they don’t like what she’s invented Sandy could lose her funding forcing her to leave Bikini Bottom. SpongeBob and Patrick decide to help their distraught friend by taking over her work and finishing her inventions.

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