can you show me in excel how each cell was done with reference the cell, modified information can be found at the top in excel pic

P17-7 Modified (part A only and change next year's sales to be $8 million instead of $7 million) Hint See the 172 on page 560 and remember the balance sheet muut balance INCOME STATEMENT current year % of sales next Year % of sales 9 10 11 salon net income dividende 12 BALANCE SHEET 14 15 % of sales next year % of sales current asso nel xed assets TOTAL ASSETS current year $2,000,000 $3.000.000 $5,000,000 use notes payable as the balancing entry 17 10 19 20 22 22 23 24 25 26 27 21 29 accounts payable accrued expenses notes payable CURRENT LIABIL. THES long-term debt TOTAL UABILITIES common stock retained samings COMMON EQUITY TOTAL LIABILITIES & OE $500,000 5500,000 $0 $1,000,000 $2,000,000 $3,000,000 $500,000 $1,500,000 $2,000,000 $5,000,000 TOTAL FINANCING PROVIDED 30 Total Liabilities & OE without notes payable (can hardcode) Total financing needed to "balance balance sheet 12 13 34 35 What are the limitations of the per briefly 17-7. (Forecasting discretionary financing needs and growth) (Related to Checkpoint 17.1 campaign that is expected to raise sales from the current level of S5 million to $7 is cambown in the following table. The company is about to embark on an advertising have to increase its investment in both current and fixed assets to support the projected rise in direct proportion to the projected increase in sales. Tivel of new sales. In fact, the company estimates that both categories of assets will ADB Distribution Company, Inc. Balance Sheet (S millions) Percentage of Sales Projected Level Present Level $2.0 3.0 $5.0 $0.5 0.5 Current assets Net fixed assets Total assets Liabilities and owners' equity Accounts payable Accrued expenses Notes payable Total current liabilities Long-term debt Common stock Retained eamings Total common equity Total liabilities and owners' equity $1.0 $2.0 $0.5 1.5 $2.0 $5.0 The firm's net profits were 6 percent of current year's sales but are expected to rise to 7 percent of next year's sales. To help support its anticipated growth in asset needs next year, the firm has suspended plans to pay cash dividends to its stockholders. In past years, a $1.50 per share dividend was paid annually. ADB's payables and accrued expenses are expected to vary directly with sales. In addition, notes payable will be used to supply the funds needed to finance next year's operations that are not forthcoming from other sources. a. Fill in the table and project the firm's needs for discretionary financing. Use notes payable as the balancing entry for future discretionary financing needs