Income & Expenses sheet: 1. Calculate January's Utilities expenses (310) by multiplying the Sales Income (36) by the Utilities % (318) under the assumptions heading. Remember to use Absolute and Relative referencing. Copy this function across row 10 for February through December. (If you end up with any 0's, you didn't use the correct absolute and relative referencing in your formula). 2. Calculate January's Rent expenses (311) using the above directions except using the Rent % (319) under assumptions and copy across row 11 through December. P a e 2 3. Calculate January's Staff expenses (312) using the above directions except using thge Stlaff % (320) under assumptions and copy across row 12 through December. 4. To calculate January's Staff Bonuses (313), use the IF function to compare January's Income (36) with the Target for Bonus value in assumptions (321). If they have met or exceed the target, then they will get a bonus (multiplying the Bonus % under assumptions (322) with the Income (36). If they don't meet or exceed the target, they get 50. Be sure to use absolute and relative referencing. Copy this function across through December. Note, you will get some cells with 0's. D27 X v fx A B C D E H K M N O P Hermes Estate Sales Projected Income and Expenses 3 January 1, 2020 to December 31, 2020 4 Today's Date: 5 January February March April May June July August September October November December Total 6 Income $900,000 $1,589,000 $1,379,000 $989,000 $1,546,000 $1,547,000 $1,529,000 $1,576,500 $1,616,000 $1,655,500 $1,695,000 $789,000 $16,811,000 8 Expenses 10 Utilities $0 Rent SO Staff $0 13 Staff Bonuses $0 14 Total Expenses so SO so so so so SO so so SO so SO SO 15 16 17 Assumptions 18 Utilities 5% 19 Rent 20% 20 Staff 20% 21 Target for Bonus $1,000,000 22 Bonus % 1% 23 24 25 26