please provide excel formula to solve each yellow box

f. Lake Athletics sells two distinct product lines: Apparel and Equipment. 1 Lake Athletics sells two distinct product lines: Apparel and Equipment. 2 The income statement for each product line appears below. LAKE ATHLETICS For the Year Ended December 31, 20X1 Apparel Equipment Amount Percent Amount Percent 9 Net sales 10 Costof goods sold 11 Gross pro 12 Operating expenses 13 Operating income 87 15 Income before tax tax expense 17 Net income 19 Required 20 1. Use appropriate Excel formulas to perform vertical analysis and complete the "Percent" columns 21 for both product lines above. Express each amount as a percentage of net sales. 22 Note: You should use absolute references in the divisors of all formulas $3,150,000 $5,550,000 9 Net sales 10 Cost of goods sold 11 Gross profit 12 Operating expenses 13 Operating income 14 Other income 15 Income before tax 16 Income tax expense 18 19 Required: 20 1. Use appropriate Excel formulas to perform vertical analysis and complete the "Percent" columns 21 for both product lines above. Express each amount as a percentage of net sales. 22 Note: You should use absolute references in the divisors of all formulas 23 2. Use the Excel IF function and the completed vertical analysis above to answer each of the 24 questions below which product line has the highest gross profit %? Which product line has the highest net income 967 26, 27 | 28 31 .. Sheeti