(Excel Formulas) The Excel worksheet below presents the income statement of Spuds and Suds for 2020. Type in the Excel formulas you should enter in the cells with bold borders to solve the following problems. a. Calculate the operating break-even point in units (2 points) b. Calculate the number of units the firm needs to sell in order to meet the EBIT target, respectively. (2 Points) c. Calculate DOL, DFL, and DCL, respectively. (6 Points) B 1 2 Spuds and Suds Income Statement For the Year Ended Dec. 31, 2020 3 4 2020 $2,500,000 1,500,000 400,000 600,000 100,000 500.000 200,000 300,000 100,000 200.000 1,000,000 $0.20 5 Sales 6 Less: Variable Costs 7 Less: Fixed Costs 8 Earnings Before Interest and Taxes 9 Less: Interest Expense 10 Earings Before Taxes 11 Taxes 12 Net Income 13 14 Less: Preferred Dividends 15 Net Income Available to Common 16 Common Shares Outstanding 17 Earnings per Share 18 19 20 Price per Unit 21 Unit Sales 22 Target EBIT 23 Variable costs as a Percent of Sales 24 Tax Rate 25 26 Operating Break-even Point (Units) 27 28 Units to Meet EBIT Target 29 30 Degree of Operating Leverage 31 Degree of Financial Leverage 32 Degree of Combined Leverage Assumptions $16.00 156,250 $800,000 60% 40%