value: 3.00 points 1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: 1 Chapter 2: Applying Excel $27,000 3 Data 4 Sales 5 Variable costs: Cost of goods sold 7 Variable selling 8 Variable administrative 9 Fixed costs: 10 Fixed selling 11 Fixed administrative $13,500 $1,400 $1,200 $2,500 $1,500 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? Gross margin $ 13,500 (b) What is the net operating income now? Net operating income $ 4,300 (c) What is the contribution margin now? Contribution margin $ 8,300|| 2. Suppose that sales are 18% higher than the data provided in requirement 1. 1 Chapter 2: Applying Excel 3 Data 4 Sales 5 Variable costs: 6 Cost of goods sold $31,860 $15,930 value: 3.00 points 1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: 1 Chapter 2: Applying Excel $27,000 3 Data 4 Sales 5 Variable costs: Cost of goods sold 7 Variable selling 8 Variable administrative 9 Fixed costs: 10 Fixed selling 11 Fixed administrative $13,500 $1,400 $1,200 $2,500 $1,500 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? Gross margin $ 13,500 (b) What is the net operating income now? Net operating income $ 4,300 (c) What is the contribution margin now? Contribution margin $ 8,300|| 2. Suppose that sales are 18% higher than the data provided in requirement 1. 1 Chapter 2: Applying Excel 3 Data 4 Sales 5 Variable costs: 6 Cost of goods sold $31,860 $15,930