I need help with answering scenario's 4 and 5 using IF formulas in Excel!!

Scenario 4	If net income is at least $15,000 and at most $35,000, taxes paid are 28% of income above $15,000,
	else,
	If net income is less than $15,000 then taxes paid are 15% of income above $8,000.
	else, If net income is greater than $35,000, taxes paid are 33% of income above $35,000,

Scenario 5	If net income for a person is greater than 15% of their Salary, then remark should say "Need More Tax Breaks!"
	Else, it should say "Good Job on Taxes!".

AutoSave . OFF A b. CAE ... IF_example-2 (1).xls - Compatibility Mode Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial 12 B Wrap Text v Currency I V Paste B Uv A Merge & Center v $ Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data B32 X V fx B C D E F G H K M N O P TAX Scenario calculations USING SIMPLE and NESTED-IF FUNCTIONS Taxes paid are calculated for each scenario using following logic: 5 (Please set all numbers shown in all scenarios using absolute reference) 6 Scenario 1 If net income is greater than $15,000, taxes paid = $1000, else taxes paid = $400. Scenario 2 If net income is greater than $15,000, taxes paid are 28% of income above $15,000, else taxes paid are 15% of income above $8,000. Scenario 3 If net income is greater than $15,000 and less than $35,000, taxes paid are 28% of income above $15,000, else taxes paid are 15% of income. Scenario 4 If net income is at least $15,000 and at most $35,000, taxes paid are 28% of income above $15,000, else, If net income is less than $15,000 then taxes paid are 15% of income above $8,000. else, If net income is greater than $35,000, taxes paid are 33% of income above $35,000, Scenario 5 If net income for a person is greater than 15% of their Salary, then remark should say "Need More Tax Breaks!" Else, it should say "Good Job on Taxes!". Absolute Reference: 18 19 20 21 CARLOS JANE CHANG 23 SALARY $54,000.00 $75,000.00 $60,000.00 DEDUCTIBLE EXPENSES $40,000.00 $51,000.00 $52,000.00 NET INCOME $14,000.00 $24,000.00 $8,000.00 28 TAXES PAID 29 Scenario 1 $400.00 $1,000.00 $400.00 $15,000.00 $1,000.00 $400.00 30 Scenario 2 $900.00 $2,520.00 $0.00 $15,000.00 $0.28 $0.15 $8,000.00 31 Scenario 3 $2, 100.00 $2,520.00 $1,200.00 $15,000.00 $35,000.00 $0.28 $0.15 32 Scenario 4 15000 35000 28% 15% 33% 8000 33 Scenario 5 34 Exercise AND OR IF_Example Practice Problem 1 Practice Problem #2 Practice Problem #3 + Ready + 120%AutoSave O OFF A . C A F ... IF_example-2 (1).xls - Compatibility Mode Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Currency 2 Arial ab Wrap Text v O Paste BIUV Merge & Center v % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Q v Filter Select Data IF 4 X v fx =[F(AND(B26>$G$31, B26