A student is using a spreadsheet model to track monthly income and expenses and also to calculate his annual income. After pressing Ctrl$+$~$,$ the formula view of the spreadsheet $($shown below$)$ was visible. What spreadsheet construction error did the student commit?

A B

$1$

$2$ Monthly Income $3600$

$3$ Living Expenses $2500$

$4$ Entertainment $500$

$5$ Savings $250$

$6$ Surplus$/$Deficit $=$B$2$B$3$B$4$B$5$

$7$

$8$ Monthly Income $3600$

$9$ Annual Income $=12*$B$8$

Question $15$ options:

Using an advanced Excel formula instead of a simpler mathematical calculation

Entering data in more than one place

Failure to adequately use labels to identify cells

Incorrect formula

There are no errors in the spreadsheet.