Page 1 of 2 Example 1. Create an income statement in excel where the sales growth rate and inflation are independent variables. (Caculate the value for the yellow cells) Assume the following: - Products are: Tee shirts $ 15.00 1900 sold Hats $ 5.00 700 sold -Yearly Sales growth is -Yearly inflation is 2.50% of sales COGS is 40% Sales: COGS Gross Margin: IS 32.000.00 $ 12,800.00 $ 19,200.00 1). What is the dollar value of your gross margin projection for 20167 Feed Costi Rent Utilities 1$ 2.000.00 IS 500.00 1$ 200.00 IS 3.000.00 100.00 $ 450.00 Salaries Other fixed costs What is the difference between variable and fed costs? Sub total of Fixed Costs $ 6.250.00 $ 12.950.00 Interest S 500.00 $ 12.450.00 TN S4233.00 Net Income $ 217.00 Return on sales (ROS): 25.7% does yoOS ratio how p o wered the