Complete the tables in the excel spreadsheet (please refer to the attached image) for next month gold prices of $1,200, $1,300, and $1,400 using the same hedging strategies as shown in the video (details duplicated below).

A gold mining firm is concerned about short-term volatility in its revenue. Gold currently sells for $1,300 an ounce, but the price is extremely volatile and could fallas low as$1,200 or rise as high as $1,400in the next month.The company will bring 1,000 ounces to the market next month.

The futures price of gold for 1-month-ahead delivery is $1,300.What would be the firm's total revenue at each gold price if the firm enters a 1-month futures contract to sell 1,000 ounces of gold?

What will be the total revenue if the firm buys a 1-month put option to sell gold for $1,300 per ounce? The puts cost $20 per ounce.