7. 8. In cell B26 calculate Net profit which is Total income minus Total expenses. Format as currency with 2 decimal places Gross Sales are predicted to increase by 10% per year for the next 4 years. In cell C12 calculate projected Gross Sales. Use absolute cell referencing and the percentage Gross Sales increase from the Assumptions Table to calculate the projected Gross Sales for 2022. Do not use the actual percentage (10%) in the formula. Instead use the cell address where the Gross Sales Increase is stored in the table. Then copy the formula to the remaining year columns. Adjust column widths as necessary to properly display data. Sales incentives are not expected to increase so just copy the 5,000 in cell B13 to the remaining year columns Similar to what you did in #8 above, calculate projected Wages, Cost of Goods Sold, and Advertising for the years 2021, 2022, 2023, and 2024. Format as number with commas and 2 decimal points. Use absolute cell referencing and percent increase from the Assumptions Table. 9. 10. 11. Rent and Supplies are not expected to increase so just copy to 2020 numbers to the remaining year columns 12. Copy the formulas for Total Income, Total Expenses, and Net Profit to the columns for the years 2021, 2022, 2023, and 2024. Format as currency with 2 decimal places. 13 Create a line chart that graphs Total Income, Total Expenses, and Net Profit for the years 2020-2024. Place the chart just below the Net Profit row. Add a chart title "Projected Profits" and make sure the legend correctly identifies the chart lines as Total Income, Total Expenses, and Net Profit. C26 x fo A B D E F G 1 Projected Profits Worksheet 2. 3 Assumptions Table 4 5 Gross Sales Increase 6 Wages Increase 7 Cost of Goods Sold 8 Advertising Increase 0.1 0.05 0.05 0.02 9 2020 2021 2022 2023 2024 200,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 205,000.00 10 11 Income: 12 Gross Sales 13 Sales Incentives 14 15 Total income 16 17 Expenses: 18 Wages 19 Cost of Goods Sold 20 Rent 21 Supplies 22 Advertising 23 24 Total expenses 25 26 Net profit 27 28 65,000.00 8,900.00 12,000.00 21,000.00 2,750.00 109,650.00 95,350.00 Sheet1 Sheet2 Sheet3 +