Precision Dyanamics Avionics Engineers HW Budgeting Exercise % of Sales Worst Case Best Case 25 20 18 Base Case ($millions) Sales Revenues Cost of Goods Sold (V) Gross Profit Operating Expenses Wage (F) Rent (F) Engr. Design (V) Miscellaneous (V) Total Operating Expenses Earn. Before Interest & Taxes Interest Expense (F) Earnings Before Taxes Income Tax Expense (40%) Net Income & olo all excell formulas ) in Show ork (show RATIO ANALYSIS Gross Profit Margin Operating Profit Margin Net Profit Margin Times Interest Earned W excell 80% 35% 15% 3.50 times in DESCRIPTIVE STATISTICS - NORMAL DISTRIBUTION Sales Operating Expenses Mean Standard Deviation