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Applying Excel 7: Absolute cell references Trend Percents F 1 B D E Comparative Income Statements 2 For Years Ended December 31, 2022-2018 3 2022

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Applying Excel 7: Absolute cell references Trend Percents F 1 B D E Comparative Income Statements 2 For Years Ended December 31, 2022-2018 3 2022 2021 2020 2019 4 Sales $57,000 $51,000 $47.000 $40,000 5 Cost of goods sold 34,000 32,000 25 000 24,000 6 Gross profit 23,000 19,000 22.000 16,000 7 Operating expenses 14,000 12,000 12 000 10,000 8 Net income $9.000 $7.000 $10,000 $8,000 9 10 11 12 2022 2021 2020 2019 13 Sales 14 Cost of goods sold 15 Gross profit 16 Operating expenses 17 Net income 2018 $35,000 23,000 12,000 8.000 $4,000 2018 Assuming cells 813 through F17 are formatted as percents (X.XX%), which formula in cell B13, when copied to cells B13 through F17, returns the proper trend percents using 2018 as the base year? Multiple Choice =$B$4/$F$4 O O =B4/F$4 O =B4/$F4 =$B4/$F4 O

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