Having a little trouble figuring out this problem. Could anyone explain how you got the numbers and not hard code it into a worksheet (not hard coding numbers into cells.) Please and thank you!

attached spreadsheet template. Input the following as assumptions in the assumption part of the spreadsheet (grey highlighted cells at the top of the spreadsheet) and then reference those cells when projecting the appropriate income statement, balance sheet, or break-even account. Do NOT hard code numbers into your projections. Project 2023 - 2025 Income Statement and Balance Sheet. Assumptions: - Sales growth rates in each of next 3 years: 22%,33%,44% - Operating expenses/sales percentage stay at 2022 level - Cost of goods sold as \% of sales stays at 2022 level for 2023 and then improves (goes down!) by .05 in 2024 and by another .03 in 2025 - 40% tax rate on Earnings Before Taxes - No new stock issued - Interest expense fixed at $400 / year - Bank loan and LT debt stay constant - 2023A/R days = year 2022 days, then decrease by 3 days in 2024 \& another 3 days in 2025 - 2023 Inventory days = year 2022 days then decrease by 3 days in 2024 \& another 3 days 2025 - A/P days stays at year 2022 days - Net fixed assets and accruals: use 2022% of sales - Required cash fixed at 1000 - Calculate Additional Funds Needed as plug (to get Balance Sheet to balance!) Calculate 2023 breakeven revenues and units. Assumptions: - Use SG\&A expenses as fixed costs - Average price per unit is $50 GRADING: You will be assessed both on the accuracy of your projections as well as your proper use of spreadsheet projection etiquette (such as not hard coding numbers into cells). This assignment is worth 10 points. Sales Growth \% Average price per item Cost of Goods Sold \% of Sales SG\&A \% of Sales Tax Rate \% of Earnings before taxes A / R days Inventory Days Net Fixed Assets \% of Sales Days Payable Accrued Liability \% of Sales Assumptions (use these to drive projected IS and BS) \begin{tabular}{|r|r|r|} \hline 0.22 & 0.33 & 0.44 \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{lrrrr} INCOME STATEMENT & Actual & Forecast -- \\ & 2022 & 2023 & 2024 & 2025 \\ Net Sales & 15000 & 18300 & 24339 & 35048 \end{tabular} Cost of Goods Sold 10500 Gross Profit 4500 SG\&A expenses 2500 Interest 400 \begin{tabular}{lr} \hline Earnings Before Taxes & 400 \\ Taxes (40\%) & 640 \\ \hline Net Income & 960 \\ \hline \end{tabular} BALANCE SHEET \begin{tabular}{lr} Required Cash & 1000 \\ A/R & 2000 \\ Inventories & 2200 \\ \hline Total Current Assets & 5200 \\ Net Fixed Assets & 6800 \\ \hline Total Assets & 12000 \\ \hline \end{tabular} \begin{tabular}{ll} Accounts Payable & 1600 \end{tabular} Bank Loan 1800 Accured Liability 1200 \begin{tabular}{lr} Accured Liability & 1200 \\ \hline Total Current Liability & 4600 \\ Long Term Debt & 2200 \\ Common Stock & 2800 \\ Retained Earnings & 0 \\ \hline Additional Funds Needed (AFN) & 12000 \\ \hline Total Liability \& Equity \end{tabular} BREAKEVEN CALCULATION Fixed Costs BREAKEVEN CALCULATION Fixed Costs Gross margin BREAKEVEN REVENUES Price per unit Cost per unit Contribution per unit BREAKEVEN UNITS