An Excel spreadsheet using formulas and cell referencing is required for this assignment. Gary and Wendy are married and file a joint tax return claiming their seven children, ages 7, 9, 11, 13, 15, 17 and 19, as dependents. They pay Susan Smith $20,800 per year to care for their children after school and provide some house cleaning (you can ignore household employment taxes). Information for 2022 includes the following (cut & paste table into Excel): + AGI including earned and unearned income 420,000 Gary's earned income 350,000 Wendy's earned income 50,000 Federal income taxes (all paid in 2022) 75,000 State and local income taxes (all paid in 2022) 26,000 Real estate property taxes 7,800 Home mortgage interest 14,300 Charitable contributions 8, 100 Pay Susan Smith for childcare 20,800 (You can ignore any possible additional medicare tax and net investment income tax.) Starting with AGI, show each step of the tax formula and calculate taxable income, tax (before credits), child tax credit, child & dependent care credit, total tax credits, total tax (after credits), tax due (refund due). The rows could be labeled as follows: AGI Standard Deduction Itemized deductions Add rows here to calculate itemize deductions Taxable Income Tax on Taxable Income (before credits) Add data here for calculating taxes Child tax credit Add rows here to calculate child tax credit Child & dependent care credit Add rows here to calculate child & dependent care credit Total Tax Credits Total tax after credits Prepayments Tax due (refund due)