5) Solve the bottom portion...see picture **Concert Profit Calculation Spreadsheet Model**A garage band plans to hold a concert with an expected crowd of 2,500 people. The average expenditure on concessions is projected to be $35 per person. Tickets will be sold at $30 each. The band anticipates a profit that constitutes 80% of the total revenue from ticket sales and concessions, minus a fixed cost of $19,000.To calculate the band's expected profit, the following spreadsheet model is suggested:### Spreadsheet Model:**A:** - 1: Expected Crowd- 2: Average Concessions Expenditure- 3: Fixed Cost- 4: Ticket Price- 5: Profit Percentage- 6: Ticket Revenue- 7: Concession Revenue- 8: Profit**B:**- 1: 2500 people- 2: $35 per person- 3: $19,000- 4: $30 per person- 5: 80%### Formulas:- **Ticket Revenue (B6):** `=B1*B4` Calculates the total revenue from ticket sales. - **Concession Revenue (B7):** `=B1*B2` Calculates the total revenue from concessions.- **Profit (B8):** `=B5*(B6+B7)-B3` Determines the final profit after accounting for the fixed cost and allocated percentage of the sales revenue.This model allows the band to proactively estimate their expected earnings and make informed decisions about their concert planning and budgeting.

The complete spreadsheet is given below : A B Expected Crowd 2500 Average Concessions Expenditure $35 Fixed Cost $19,000 Ticket Price $30 Profit percentage 80% Ticket Revenue $75,000 Concession Revenue $87,500 Profit $1,11,000 The profit is calculated by : 80%.(Ticket revenue+concession revenue)-fixed cost =$1,11,000