Download the attached Excel file (First Q Profits Report W Goal Seek_Ver2.xlsx).Instructions:. There are 3 Worksheet Tabs in this Excel file; First Q, First Q Goal Seek, and Minivan Loan.• The First Q (First Quarter) tab shows the first quarter revenue and expenses of the Downtown Internet Cafe. For this tab,• Complete the Proportion column, cells G7 through G11 Each proportion value shows the % of the quarterly sale of that item over the entire sale.Calculate the Net Income row, cells B24 through F24.o Compute the Profit Margin row, Cells B25 through E25.o Add Net Income Sparkline for January through March in Cell H24.in For this tab 234567 Espresso8910 Merchandise11Computer12 Total SalesSalesDrip CoffeeFood/Beverage13 Expenses14 Cost of Goods15 Cost of Merchandise16 Payroll17 Internet18 Building19 Advertising20212223 IncomeCapital AssetsMiscellaneousTotal Exp24 Net Income25 Profit Margin26BDowntown Internet CaféFirst Quarter Forecast$$JANFEBMAR17,580 $17,750 $3,710 $3,080 $$12,000 $ 12,000 $$325 $325 $$2,100 $2,100 $$600 $600 $$ 1,500 $1,500 $$1,300 $1,300 $$26,400 $ 27,200 $ 26,500 $ 80,100 $26,700$ 14,400 $ 14,500 $ 14,800 $43,700 $14,567$32,900 $10,96711,100 $5,300 $1,050 $11,0004,400 $$14,200 $4,733$1,165 $3,460 $ 1,153$ 58,250 $58,265 $174,360 $58,120$10,800 $4,500 $1,245 $57,845 $17,545 $3,150 $12,000 $325 $2,100 $600 $1,500 $1,300 $TOTALAVG27 Student's Name:KAYA First Q First Q Goal Seek Minivan Loan52,875 $17,6259,940 $3,31336,000 $12,000975 $3256,300 $2,1001,800 $ 6004,500 $1,5003,900 $1,300$ 58,250 $ 58,265 $ 57,845 $ 174,360 $58,120ProportionProportion showsthe ratio (%) of eachsales item over theTotal Sales.Add Net IncomeSparkline for themonths of Jan. toMar. in Cell H24.

Total sales are defined as the amount an entity collects by trading all of its products. It means if…

2 3 4 5 6 Sales 7 Espresso 8 Drip Coffee 9 Food/Beverage 10 Merchandise 11 Computer 12 Total Sales 13 Expenses 14 15 16 Payroll 17 Internet 18 Building 19 20 21 22 23 Income 24 Net Income 25 Profit Margin 26 Cost of Goods Cost of Merchandise Advertising Capital Assets Miscellaneous Total Exp 27 Student's Name: K‹ First Q $ $ $ $ $ $ $ S $ Downtown Internet Café First Quarter Forecast JAN FEB 26,400 $ 27,200 $ 26,500 $ 14,400 $ 14,500 $ 14,800 $ 11,100 $ $10,800 $ 11,000 4,400 $ 5,300 $ 4,500 $ 1,050 $ 1,165 $ 1,245 $ 58,250 $ 58,265 $ 57,845 $ $ $ $ $ $ 1,300 $ MAR 17,580 $ 3,710 $ 12,000 $ 12,000 325 $ 325 $ 2,100 $ 2,100 $ 600 $ 600 $ 1,500 $ 1,500 $ 1,300 $ 17,750 $ 17,545 $ 3,080 $ 3,150 $ $12,000 $ 325 $ 2,100 $ 600 $ 1,500 $ 1,300 $ $ 58,250 $ 58,265 $ 57,845 $ TOTAL First Q Goal Seek Minivan Loan P AVG 80,100 $26,700 43,700 $14,567 32,900 $10,967 14,200 $4,733 3,460 $ 1,153 174,360 $58,120 52,875 $17,625 9,940 $3,313 36,000 $12,000 325 975 $ 6,300 $2,100 1,800 $ 600 4,500 $1,500 3,900 $1,300 174,360 $58,120 Proportion Proportion shows the ratio (%) of each sales item over the Total Sales. Add Net Income Sparkline for the months of Jan. to Mar. in Cell H24.

2 3 4 5 6 Sales 7 Espresso 8 Drip Coffee 9 Food/Beverage 10 Merchandise 11 Computer 12 Total Sales 13 Expenses 14 15 16 Payroll 17 Internet 18 Building 19 20 21 22 23 Income 24 Net Income 25 Profit Margin 26 Cost of Goods Cost of Merchandise Advertising Capital Assets Miscellaneous Total Exp 27 Student's Name: K‹ First Q $ $ $ $ $ $ $ S $ Downtown Internet Café First Quarter Forecast JAN FEB 26,400 $ 27,200 $ 26,500 $ 14,400 $ 14,500 $ 14,800 $ 11,100 $ $10,800 $ 11,000 4,400 $ 5,300 $ 4,500 $ 1,050 $ 1,165 $ 1,245 $ 58,250 $ 58,265 $ 57,845 $ $ $ $ $ $ 1,300 $ MAR 17,580 $ 3,710 $ 12,000 $ 12,000 325 $ 325 $ 2,100 $ 2,100 $ 600 $ 600 $ 1,500 $ 1,500 $ 1,300 $ 17,750 $ 17,545 $ 3,080 $ 3,150 $ $12,000 $ 325 $ 2,100 $ 600 $ 1,500 $ 1,300 $ $ 58,250 $ 58,265 $ 57,845 $ TOTAL First Q Goal Seek Minivan Loan P AVG 80,100 $26,700 43,700 $14,567 32,900 $10,967 14,200 $4,733 3,460 $ 1,153 174,360 $58,120 52,875 $17,625 9,940 $3,313 36,000 $12,000 325 975 $ 6,300 $2,100 1,800 $ 600 4,500 $1,500 3,900 $1,300 174,360 $58,120 Proportion Proportion shows the ratio (%) of each sales item over the Total Sales. Add Net Income Sparkline for the months of Jan. to Mar. in Cell H24.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Indo 37 1 2 B S 0 Clipboard Sales Espresso Drip Coffee A Food/Beverage Merchandise 1 P 3 Expenses Computer Total Sales = First Q alculation Mode: Automatic 74°F Haze $ $ Font fx 26400 B JAN C Downtown Internet Café First Quarter Forecast $ 11,100 $ 5,300 $ $ $ 1,050 $ First Q Goal Seek FEB D 26,400 $ 27,200 $ 26,500 $ 14,400 $ 14,500 $ 14,800 $ 11,000 $ 10,800 $ 4,400 $ 4,500 $ 1,165 $ 1,245 $ Workbook Statistics MAR E Minivan Loan + Alignment TOTAL F AVG Proportion 80,100 $ 26,700 43,700 $14,567 32,900 $10,967 14,200 $ 4,733 3,460 $ 1,153 OL Number H E I