Hi, please help! Advanced Accounting, chapter's 9&10. Excel wirksheet assignment. Please orovide formulas!

5 Required: Note: Use the cells A2 to B13 from the above information to complete this question. Select 6 "No Effect" if there is no effect. Negative amounts should be input and displayed as negative values. Answer the following questions: a. What is the net impact on Stone Company's 2023 income as a result of this fair value hedge of a firm commitment? b. What is the net impact on Stone Company's 2024 income as a result of this fair value hedge of a firm commitment and export sale? c. What was the net increase or decrease in cash flow from having purchased the foreign currency option to hedge this exposure to foreign exchange risk? On September 1,2023 , Stone Company received an order to sell a machine to a customer in Australia at a price of $102,000 Australian dollars. Stone shipped the machine and received payment on March 1, 2024. On September 1, 2023, Stone purchased a put option giving it the right to sell $102,000 Australian dollars on March 1, 2024 at a price of $82,000. Stone properly designated the option as a fair value hedge of the Australian dollar firm commitment. The option's time value is excluded in assessing hedge effectiveness, and the change in time value is recognized in net income over the life of the option. The option cost $2,200 and had a fair value of $2,540 on December 31, 2023. The fair value of the firm commitment was measured by referring to changes in the spot rate (discounting to present value is ignored). The following spot exchange rates apply: 4 5 6 7 8 9 1 1 1 14 15. Required: Nequired: Note: Use the cells A2 to B13 from the above information to complete this question. Select 16 "No Effect" if there is no effect. Negative amounts should be input and displayed as negative values On September 1,2023, Stone Company received an order to sell a machine to a customer in Australia at a price of 102,000 Australlan dollars. Stone shipped the machine and recelved payment on March 1, 2024. On September 1,2023, Stone purchased a put option giving it the right to sell 102,000 Australian dollars on March 1,2024 at a price of $82,000. Stone properly designated the option as a fair value hedge of the Australian dollar firm commitment. The option's time value is excluded in assessing hedge effectiveness, and the change in time value is recognized in net income over the life of the option. The option cost $2,200 and had a fair value of $2,540 on December 31, 2023. The fair value of the firm commitment was measured by referring to changes in the spot rate (discounting to present value is ignored). The following spot exchange rates apply: Required: Answer the following questions: a. What is the net impact on Stone Company's 2023 income as a result of this fair value hedge of a firm commitment? b. What is the net impact on Stone Company's 2024 income as a result of this fair value hedge of a firm commitment and export sale? c. What was the net increase or decrease in cash flow from having purchased the foreign currency option to hedge this exposure to foreign exchange risk? Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect