complete the assigned problems in Microsoft excel (23,31,32)

Exercises All applicable Exercises are available in Connect. connect Fill in the missing data for each of the following independent cases. (Ignore income taxes.) Exercise 7-23 Fill In Blanks: Basic CVP Sales Variable Total Fixed Net Break-Even Relationships Revenue Expenses Contribution Margin Expenses Income Sales Revenue LO 71,7-2) 1. $40 000 $30.000 $40.090 2. $ 80 090 $15,000 80.000 3. 40.000 80.000 $50,000 1 10 000 22.000 38 000Exercise 7-31 A contribution income statement for the Nantucket Inn is shown below. (Ignore income taxes.) Hotel and Restaurant, Cost Revenue Structure and Operating $500,000 Leverage Less: Variable expenses 300.000 (LO 7-2, 7-4, 7-8) Contribution margin $200,000 Less: Fixed expenses 150.000 Net income $ 50,000 Required: 1. Show the hotel's cost structure by indicating the percentage of the hotel's revenue represented by each item on the income statement. 2. Suppose the hotel's revenue declines by 15 percent. Use the contribution-margin percentage to cal- culate the resulting decrease in net income, 3. What is the hotel's operating leverage factor when revenue is $500,000? 4. Use the operating leverage factor to calculate the increase in net income resulting from a 20 per- cent increase in sales revenue. Exercise 7-32 Refer to the income statement given in the preceding exercise. Prepare a new contribution income state- Continuation of Preceding ment for the Nantucket Inn in each of the following independent situations. (Ignore income taxes.) Exercise 1. The hotel's volume of activity increases by 20 percent, and fixed expenses increase by 40 percent. (LO 7-4, 7-7) 2. The ratio of variable expenses to revenue doubles. There is no change in the hotel's volume of activity. Fixed expenses decline by $25,000