Give me formulas please

119 Problem 9.14 1 $ lului Elmdale Enterprises is deciding whether to expand its production facilities. Although long-term cash flows are difficult to estimate, management has projected the cash flows below for the first two years (in millions) Complete the steps below sing cell references to give data or previous calenlations. In some cases, a simple cell reference is all you need to copy paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used the directions will specify the use of that function. Do not ope in numerical data into a cell or function. Dustead, make a reference to the cell in which the data is found. Make your computations only in the bine cells highlighted below. In all cases, unless otherwise directed use the earliest appearance of the data in your formulas, Monally the Given Data section 2. What are the incremental earnings for this project for years 1 and 22 . What are the free cash flows for this project for years 1 and 2? Year Sales $ Operating Expenses (other than depreciation) Depreciation Increase in Net Working Capital Capital Expenditures Marginal Corporate Tax Rate What are the incremental earnings for this project for years 1 and 22 Incremeatal Earnings Forecast (million) Year Sales Les Operating Experises Less Depreciation EBIT Less: Income Tax at 35% Earnings After taxes (Incremental earnings) 5. What are the free cash flows for this project for years 1 and 2? Free Cash Flows (million) Year Plus: Depreciation Les Capital Expenditures Less Increases in NWC Free Cash Flows: 125s 40s 25 s 21$ 30 3596 2 160 60 36 8 40 J5% Requirements Important in rows 21, 22, 24, 32 and 31 the vloes for operating expenses depreciation, taxes capital expenditures and increases in NWC are expected as negative In cell rate F20:20 by using cell references calestate the sales for years 1 2, respectively pt.) 2 In pell range F21:621 by using cell reference calculate the operating expenses for years 12. respectively Note The output of the expression you typed in this cell is expected as a negative sumber pt.) In cell range F22:22 by using cell reference calculate the depreciation for years 12. rupectively pt) Note The output of the 1