To complete the assignment, you need to create a spreadsheet model in Microsoft Excel that represents Snow Top Ski Area's financial situation. The model should cover the three-year period from 2020 to 2022. Here are the steps you can follow to complete each section of the spreadsheet:

Constants Section: 1. Open a new Excel spreadsheet. 2. Set up the constants section by entering the following values in the appropriate cells: Tax Rate, Cash Needed to Start Next Year, Interest Rate on Debt, Daily Lift Ticket Price, Annual Lift Ticket Price, Average Daily Money Spent on Food, Average Ski School Daily Price, Average Daily Rental Price, Number of Ski Days per Year, Other Daily Revenue, Summer Potential Revenue, Operating Costs - Snow Making, Operating Costs - Summer, and Daily Other Winter Operating Costs.

Inputs Section: 1. Create the inputs section by entering the following values in the appropriate cells for each year (2020-2022): Rate of Change in Skiers, Economic Outlook, Climate Change Factor, and Summer Operations.

Summary of Key Results Section: 1. Set up the summary of key results section by entering the appropriate labels in the cells for each year (2020-2022): Net Income After Taxes, Cash on Hand at Year End, Debt Owed at Year End, and Profit Margin.

Calculations Section: 1. Calculate the values needed for the income and cash flow statements. Use formulas in the calculations section to perform the following calculations: Percentage Change in Daily Skiers, Number of Daily Skiers, Number of Season Skiers, Yearly Total Skier Revenue, Daily Ski School Attendees, Yearly Ski School Revenue, Daily Equipment Rental Users, Yearly Rental Revenue, Yearly Food Concession Revenue, and Other Yearly Revenue.

Income and Cash Flow Statements: 1. Create the income and cash flow statements section by entering the appropriate labels and formulas in the cells for each category: Beginning-of-the-Year Cash on Hand, Revenue - Skiers, Revenue - Ski School, Revenue - Equipment Rental, Revenue - Food Concession, Revenue - Other, Revenue - Potential Summer, Total Revenue, Operating Costs - Snow Making, Summer Operating Costs, Daily Other Winter Operating Costs, and Ending-of-the-Year Cash on Hand.

Remember to use absolute referencing properly in your formulas to ensure accurate calculations. Format currency values with zero decimals for better readability.

Once you have completed the spreadsheet model, you can proceed to Assignment 2, where you will run Scenario Manager to explore various financial scenarios and write a memorandum documenting your analysis and findings.

Note: The specific layout and formatting of the spreadsheet may vary based on your personal preferences and any additional instructions provided by your instructor.