$\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|\}\backslash$hline Chapter $1$: Applying Excel & & $\backslash \backslash \backslash$hline Data & & $\backslash \backslash \backslash$hline Sales & $\backslash$$$12,000$ & $\backslash \backslash \backslash$hline Variable costs: & & $\backslash \backslash \backslash$hline Cost of goods sold & $\backslash$$$6,000$ & $\backslash \backslash \backslash$hline Variable selling & $\backslash$$$600$ & $\backslash \backslash \backslash$hline Variable administrative & $\backslash$$$400$ & $\backslash \backslash \backslash$hline Fixed costs: & & $\backslash \backslash \backslash$hline Fixed selling & $\backslash$$$2,500$ & $\backslash \backslash \backslash$hline Fixed administrative & $\backslash$$$1,500$ & $\backslash \backslash \backslash$hline & & $\backslash \backslash \backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Enter a formula into each of the cells marked with a $?$ below$\}\backslash \backslash \backslash$hline Exhibit $1-7$ & & $\backslash \backslash \backslash$hline & & $\backslash \backslash \backslash$hline Traditional Format Income Statement & & $\backslash \backslash \backslash$hline Sales & & $?\backslash \backslash \backslash$hline Cost of goods sold & & $?\backslash \backslash \backslash$hline Gross margin & & $?\backslash \backslash \backslash$hline Selling and administrative expenses: & & $\backslash \backslash \backslash$hline Selling & $?$ & $\backslash \backslash \backslash$hline Administrative & $?$ & $?\backslash \backslash \backslash$hline Net operating income & & $?\backslash \backslash \backslash$hline & & $\backslash \backslash \backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Contribution Format Income Statement$\}\backslash \backslash \backslash$hline Sales & & $?\backslash \backslash \backslash$hline Variable expenses: & & $\backslash \backslash \backslash$hline Cost of goods sold & $?$ & $\backslash \backslash \backslash$hline Variable selling & $?$ & $\backslash \backslash \backslash$hline Variable administration & $?$ & $?\backslash \backslash \backslash$hline Contribution margin & & $?\backslash \backslash \backslash$hline Fixed expenses: & & $\backslash \backslash \backslash$hline Fixed selling & $?$ & $\backslash \backslash \backslash$hline Fixed administrative & $?$ & $?\backslash \backslash \backslash$hline Net operating income & & $?\backslash \backslash \backslash$hline $\backslash$end$\{$tabular$\}$