INSTRUCTIONS: For this part of the project, you are given the Actual Budget figures for 2015 (in Columrn A). Based on the 2015 Actual figures, you are given a budget strategies (Column B) for each income statement list item to make the estimated budgets for 2016. You will provide. the 2016 Estimated figures for this assignment in Column D. The 2016 Actual figures are also given in Column E. Once you have provided the 2016 Estimated figures, the variance will be given in the far right column (Column G). As you can see, some equations are already entered into this spread sheet. The dvariances figures will change as you key in the 2016 Estimated column. (It is wise to check the calculations of the formulas once completed,) When the variances have been calculated, you should fill the favorable variance boxes in with yellow and the unfavorable variances with blues this can include the line totals as well, if applicable. An example calculation is given for the first line of the income statement (net sales line; Box D6). Once you have completed each of these calculations, and have the 2016 estimates and variances completed, continue to the next worksheet (Part Il Essay Questions). Provide the answers to each in the corresponding textboxes by clicking on the textbox and entering your answers in the areas shaded in green