The following spreadsheet shows the income statement of DeGraff Wholesale Grocery Co.:

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1. Write the word number in the cells (indicated by arrows) where numbers will be entered.
2. Write the appropriate formula in each cell that will need a formula. Symbols from which to choose are:

3. Last year DeGraff Wholesale Grocery Co. used this spreadsheet to prepare the company's budgeted income statement-which shows the company's net income goal-for the current year. It is now one year later, and DeGraff has prepared its actual income statement for the year. State how the president of the company can use this income statement in decision making.

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Row Number 5 648 Revenues: Service revenue 7 Rent revenue 9 Total revenue 10 11 12 13 14 15 16 17 18 19 Expenses: Salary expense Supplies expense Rent expense Depreciation expense Total expenses Net income 20 Column A B