please write out the formula used to get the percentage to input in the cell , i know what im dividing but it has to be done with the cell. thank you !!

HQ 10 Spelling Research Thesaurus Translate New Comment Delete Previous Next Show All Comments Showink Changes Proofing Language Comments C10 1 X fo F - 4 B D E 1 Lake Athletics sells two distinct product lines: Apparel and Equipment. 2 The income statement for each product line appears below. 3 4 LAKE ATHLETICS Income Statement 6 For the Year Ended December 31, 20X1 7 Apparel Equipment 8 Amount Percent Amount Percent 9 Net sales $3,150,000 100.0 $5,550,000 10 Cost of goods sold 1,400,000 2,720,000 11 Gross profit 1,750,000 2,830,000 12 Operating expenses 800,000 875,000 13 Operating income 950,000 1,955,000 14 Other income 20,000 10,000 15 Income before tax 970,000 1,965,000 16 Income tax expense 241,250 491,000 17 Net Income $728,750 $1,474,750 18 19 Required: 2011 Ilca annunriato Fural formulae te nronara rommon ciroctatomante huromnlating the "Dorrant" rolumns Required: 1. Use appropriate Excel formulas to prepare common size statements by completing the "Percent" columns for both products above. Express each amount as a percentage of net sales. Note: You should use absolute references in the divisors of all formulas. 2. Use the Excel IF function and the completed common size income statement above to answer each of the questions below: Which product line has the highest gross profit %? Which product line has the highest net income %? (Note: Make sure to include "100 at the end of your formula in order to convert the decimal to a percentage.) 1