Office Light Inc. Office Light Inc, a company that produced desk lamps has determined that a new desk lamp can be sold at a price of $40 each. To produce the new product (desk lamp), management plans to lease a plant and equipment for $520,000 per year. The material and labor will cost $24 per product. Insurances and other fixed costs are $280,000 per year. This year, the plan is to produce and sell 35,000 units. 1. (4 pts). In Excel, create a model for the management. Arrange, enter the data and use labels for the breakeven analysis on the spreadsheet. Name this worksheet "Model". All numerical input values should be entered in separate cells. When necessary, use a formatting that makes it clear that the user may change the number that is entered into each of these cells. Format all other numerical amounts as number with thousands separator. 2. (3 pts). Construct the formula for the number of products required annualy to breakeven. Your model should clearly show the values of important quantities in this problem and how they combine to give the breakeven point. Numerical values should be formulated with dollar sign and/or commas. Format the cell as a number with 0 decimal places. 3. (2 pts). Given the economic incertainty in the coming years, Management wants to see the effect of varying number of products on the total cost, total revenue and net profit from 20,000 to 90,000 products (in increments of 10,000). Construct a data table based on your spreadsheet model using the Excel's Data Table (One-Way Data Table). Label the table "One-Way Data Table" Enter the labels of number of desk lamps, total cost, total revenu, and net profit. Put a border around the content of the table. Format all dollar amounts as Currency with 0 decimal places. 4. (3 pts) Create a line chart showing the total cost, and total revenu as a function of the number of products produced and sold. On the same worksheet, create a second line chart showing net profit as a function of number of desk lamps produced and sold. Title the chart" Office Light Inc. Breakeven". Add appropriate labels to axis. 5. (2 pts) Use the Goal Seek to find how many desk lamps to produce and sell to make a net profit of $192,000. Label a cell "Goal Seek" and report this value. 6. (4 pts) Use the scenario manager to explore these different scenarios in this problem. In each case, we are interested in total cost, total revenue, net profit, and breakeven quantity.