Figure AE-1 shows an Excel spreadsheet that the resort bicycle rental business uses to value and analyze its bicycle inventory. Examine Figure AE-1 to understand the meaning of the data. Now use Excel to create a similar spreadsheet. Note the following:

• The top heading is in 20-point Calibri font. It is centered in the spreadsheet. Cells A1 through H1 have been merged.

• The second heading, Bicycle Inventory Valuation, is in 18-point Calibri, italics. It is centered in cells A2 through H2, which have been merged.

• The column headings are set in 11-point Calibri, bold. They are centered in their cells, and the text wraps in the cells.

a. Make the first two rows of your spreadsheet similar to that in Figure AE-1. Choose your own colors for background and type, however.

b. Place the current date so that it is centered in cells C3, D3, and E3, which must be merged.

c. Outline the cells as shown in Figure AE-1.

d. Figure AE-1 uses the following formulas:

Cost of Current Inventory = Bike Cost ×

Number on Hand Revenue per Bike = Total Rental Revenue/

Number on Hand Revenue as a Percent = Total Rental Revenue/

of Cost of Inventory Cost of Current Inventory Please use these formulas in your spreadsheet, as shown in Figure AE-1.

e. Format the cells in the columns, as shown.

f. Give three examples of decisions that management of the bike rental agency might make from this data.

g. What other calculation could you make from this data that would be useful to the bike rental management?

Create a second version of this spreadsheet in your worksheet document that has this calculation.