2a. Scholarships Model Spreadsheet (30 pts) 2b. (15 pts) Two-way table for extra funds (\$) needed 1. MasterTech (40 pts): Complete the model formulation (i.e., formula the colored cells). \begin{tabular}{|l|r|} \hline Data & \\ \hline Net sales & $1,250,000 \\ \hline Cost of sales & $300,000 \\ \hline Selling expenses & \\ \hline \multicolumn{1}{|r|}{ Variable (\% of net sales) } & $90,000 \\ \hline Administrative expenses & 8% \\ \hline Interest expenses & $50,000 \\ \hline Tax rate & $8,000 \\ \hline Model & 50% \\ \hline Gross profit & \\ \hline Total selling expenses & \\ \hline Net operating profit & \\ \hline Net income before taxes & \\ \hline Total taxes (\$) & \\ \hline Net income & \\ \hline \end{tabular}