1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this:

If your formulas are correct, you should get the correct answers to the following questions.

(a) What is the gross margin now?

(b) What is the net operating income now?

(c) What is the contribution margin now?

1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: A B 1 Chapter 1: Applying Excel 2 3 Data 4 Sales $ 81,000 5 Variable costs: 6 $ 7 Cost of goods sold Variable selling Variable administrative $ 60,000 6,000 5,800 8 $ 9 Fixed costs: 10 $ Fixed selling Fixed administrative 2,500 1,500 11 $ If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? Gross margin $ 21,000 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? Gross margin $ 21,000 (b) What is the net erating income now? Net operating income $ 13,200 (c) What is the contribution margin now? Contribution margin $ 9,200