Prob 2). Use Excel to perform the following tasks on the income statement model provided: a). Create a two-way data table for net income by varying: 1) Gross Profit (Low = 200,000, High = 800,000, increment = 50,000),, and 2) Var.Cost% (Low = 0.10, High = 0.30, Increment = 0.025). Use conditional formatting to identify negative values (Loss) of Net Income. b). Create a chart (surface chart) with sensitivity analysis that graphically represents the data table from (a). c). Create a histogram of the results of a). What are your conclusions? Typical Income Statement for Manufacturing Business Revenue 900000 COGS 360000 COGS% - 40% Gross Profit 540000 Variable Cost 270000 Var. Cost% - 30% Fixed Cost 125000 Operating Expenses 395000 Net Operating Income 145000 Interest Expense 25000 Earnings Before Taxes 120000 Taxes 40800 Tax Rate= 34% Net Income 79200 Calculations COGS = Revenue * COGS% Variable Cost = Var. Cost % * Revenue Taxes = Taxes Rate * Earnings Before Taxes units in $$ Prob 2). Use Excel to perform the following tasks on the income statement model provided: a). Create a two-way data table for net income by varying: 1) Gross Profit (Low = 200,000, High = 800,000, increment = 50,000),, and 2) Var.Cost% (Low = 0.10, High = 0.30, Increment = 0.025). Use conditional formatting to identify negative values (Loss) of Net Income. b). Create a chart (surface chart) with sensitivity analysis that graphically represents the data table from (a). c). Create a histogram of the results of a). What are your conclusions? Typical Income Statement for Manufacturing Business Revenue 900000 COGS 360000 COGS% - 40% Gross Profit 540000 Variable Cost 270000 Var. Cost% - 30% Fixed Cost 125000 Operating Expenses 395000 Net Operating Income 145000 Interest Expense 25000 Earnings Before Taxes 120000 Taxes 40800 Tax Rate= 34% Net Income 79200 Calculations COGS = Revenue * COGS% Variable Cost = Var. Cost % * Revenue Taxes = Taxes Rate * Earnings Before Taxes units in $$