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(a) Discuss why What-if analysis plays an important role in modelling process.

(5 marks)

(b) A Projected Income of Sam Sweet is in the excel file Q3 data - Income Statement of Sam Sweet.xlsx. Perform three what-if analyses: scenarios, data tables, and Goal Seek. To answer this question, for each of the three analyse, please

• Clearly identify the input/changing and output variables

• Insert the corresponding screenshot for the result of the analysis

• Briefly interpret the results

A B D E F 3 2019 95.000 4 5 61 7 8 9 10 11 Revenue Sales revenue (Less sales returns and allowances) Service revenue Interest revenue Other revenue Total Revenues 62,000 157,000 1,000 63,000 8,000 5,200 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Expenses Advertising Bad debt Commissions Cost of goods sold Depreciation Employee benefits Furniture and equipment Insurance Interest expense Maintenance and repairs Office supplies Payroll taxes Rent Research and development Salaries and wages Software Travel Utilities Web hosting and domains Other Total Expenses 55,000 132,200 Net Income Before Taxes Income tax expense 24,800 9,920 14,880 40 41 42 43 44 45 46 Income from Continuing Operations Below-the-Line Items Income from discontinued operations Effect of accounting changes Extraordinary items Net Income 14,880 A B D E F 3 2019 95.000 4 5 61 7 8 9 10 11 Revenue Sales revenue (Less sales returns and allowances) Service revenue Interest revenue Other revenue Total Revenues 62,000 157,000 1,000 63,000 8,000 5,200 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Expenses Advertising Bad debt Commissions Cost of goods sold Depreciation Employee benefits Furniture and equipment Insurance Interest expense Maintenance and repairs Office supplies Payroll taxes Rent Research and development Salaries and wages Software Travel Utilities Web hosting and domains Other Total Expenses 55,000 132,200 Net Income Before Taxes Income tax expense 24,800 9,920 14,880 40 41 42 43 44 45 46 Income from Continuing Operations Below-the-Line Items Income from discontinued operations Effect of accounting changes Extraordinary items Net Income 14,880