Please help me understand the formulas needed for these steps.

Carl's Construction Carl's existing customers and part-time employee's data are: CustomerName Your Own Name Sam Nichols Tom Hart Carl Mint Adam Smith Rick Jones Brian White Murphy Thomas Address AccountBalance EmployeeName EmployeeRate Working Hours 123 Fifth $45 Cooper $15.15 205 Monroe $20 Murphy $17.25 3 147 Main $20 Morton $20 3 358 Oak $0 Cooper $15.15 7 410 Orange $30 Morton 2 220 Division $40 Cooper $15.15 15 661 Martin $100 Murphy $17.25 3 211 Martin $50 Murphy $17.25 9 $20 The OverHead Rate is 25%. Place in spreadsheet in cell A20 to use in formula in question #2. Please use Excel to: 1. Create a properly, well-designed worksheet including a properly formatted title and input the properly formatted data. Name the sheet Construction. (10 points) DO NOT MAKE YOUR SHEET INTO A TABLE 2. Add a new column calculate SubTotal as Subtotal, EmployeeRate*Working Hours*(1-OverHeadRate) (10 points) 3. Add a new column UpdatedAcctBal, calculate UpdatedAcctBal as SubTotal-AccountBalance (10 points) 4. Calculate the AVERAGE and SUM of each: AccountBalance, EmployeeRate, Working Hours, Sub Total, and NewAccountBalance (10 points) 5. Calculate the Maximum and Minimum of each: AccountBalance, EmployeeRate, Working Hours, SubTotal, and NewAccountBalance (10 points) 6. Highlight the max UpdatedAcctBal by conditional formatting using Bold and Red Font (10 points) 7. Add a new column for AdjustedPayRate by using the rule: if the current pay rate is less than $16., then update the rate to $16.50. (10 points) 8. Create another sheet for employees pay raise data: Cooper 4 Murphy 3% Morton 2%. Name the sheet Pay Raise (10 points) 9. In the Homekeepers sheet, add a new column_2021PayRate, calculate 2021 PayRate as AdjustedPayRate* (1-PayRaise) (hint, use VLOOKUP to get the pay rate raise data from the sheet Pay Raise.) (10 points) 10. Create a pivot table and a pivot chart in another sheet to show the total working hours of each employee. (10 points) Note: 1. You must use formulas to do the calculations, and autofill to copy 2. Please upload the Excel file to Canvas