D E F 2021 2022 2023 2024 B 1 ABC FACTORY 2 Projected Income Statement 3 4 5 2020 6 Sales 2200 7 8 Costs 9 Production fees 10 Revenues 11 Marketing fees 12 Total 13 14 Income before taxes 15 16 17 Revenues Growth 10% 18 19 Ratio Costs (percentage of revenue) 20 Production fees 28% 21 Revenues 20% 22 Marketing fees 10% 23 1. Create the worksheet shown above. 2. The projected yearly revenues are set to increase by 10% every year from the previous year. In cell C6, enter the formula that will calculate the projected sales for 2016. Revenues 2021 =revenues 2020 +(revenues 2020*Revenue growth) 3. Copy this formula to the right to calculate the revenues for the other years. 4. In this exercise, you will enter only one formula, that is, in cell B9, enter the formula to calculate the production fees for 2020. When you enter this formula, enter it knowing that you will copy the formula first across the row to range CO:F9. Then you will copy range B9:F9 down to row 11. You will need to use mixed cell references. 5. Repeat instructions 8 and 9 of the previous exercise. 6. Save the file with name Exercise 3. D E F 2021 2022 2023 2024 B 1 ABC FACTORY 2 Projected Income Statement 3 4 5 2020 6 Sales 2200 7 8 Costs 9 Production fees 10 Revenues 11 Marketing fees 12 Total 13 14 Income before taxes 15 16 17 Revenues Growth 10% 18 19 Ratio Costs (percentage of revenue) 20 Production fees 28% 21 Revenues 20% 22 Marketing fees 10% 23 1. Create the worksheet shown above. 2. The projected yearly revenues are set to increase by 10% every year from the previous year. In cell C6, enter the formula that will calculate the projected sales for 2016. Revenues 2021 =revenues 2020 +(revenues 2020*Revenue growth) 3. Copy this formula to the right to calculate the revenues for the other years. 4. In this exercise, you will enter only one formula, that is, in cell B9, enter the formula to calculate the production fees for 2020. When you enter this formula, enter it knowing that you will copy the formula first across the row to range CO:F9. Then you will copy range B9:F9 down to row 11. You will need to use mixed cell references. 5. Repeat instructions 8 and 9 of the previous exercise. 6. Save the file with name Exercise 3