instructions from instructor: Recreate the profit and loss statement on page 34. any cells that contain a number that is derived at through a calculation, must be formwtted with the appropriate formula (you can not just enter the number). for example, the cell for net sales $ and % must be formulated to have the correct formula so excel does the math. the dame goes for Total COGS, gross cost of goods sold, net Cost of goods sold, total cogs sold, gross margin, total operating expenses $ and %, Net Profit $ and %.

can you show me the formulas that need to be typed in and where to type them?

thanks in advance

$100,000 crores the opening inventory figure demined by physical court from which $52.000 the skeletal profit and loss statement. The basic profit factors that is, sales, cost of sen. To analyze the results, each factor must be presented in a standard accounting goods sold, and expenses) are developed in detail so that each transaction is clearly pation among departments or stores because the detailed information supplied by arrangement. The final profit and loss statement is the only way to make a valid com this statement is necessary to compute the cost of goods actually sold. For a better understanding of the detailed final profit and loss statement shown in Figure 2.eler Figure 2. Profit and Loss Statement Cost Retail $450.000 - $25,000 $425,000 100 Gross Sales Customer Retums & Alowances Net Sales Cost of Goods Sold Opening Inventory New Net Purchases + Inward Freight $52,000 $100,000" $258.000 - $2,000 $260.000 $260,000 $312.000 Total Cost of Goods Total Merchandise Han- ded at Cost - Closing Inventory at Cost Gross Cost of Goods Sold - Cash Discounts Net Cost of Goods Sold Alteration & Workroom Costs Total Cost of Goods Sold GROSS MARGIN Operating Expenses - $65,000 $247.000 $13.000 $234,000 + $1,000 $235.000 - $235,000 55.3% $190,000 44.7% Total Direct Expenses Total Indirect Expenses Total Operating Expenses Net Prolt $101.250 $67,500 $168,750 39.7% $21.250 5.0% the pering convertory, is derived by copying a markup percentage 2 loss statement, is amplification of to the following definitions. 34 CHAPTER 1: MERCHANDISING FOR A PROFIT