Please provide Excel work sheets with and without formulas. I will not be able to complete this problem without them. If they are provided a thumbs up will be given.

Intro Income statement for 2020 Line item Sales - COGS Gross profit - SG&A - Depreciation = Operating profit - Interest = Taxable income - Taxes (28%) Net income Amount ($) 370,000 148,000 222,000 74,000 37,000 111,000 25,000 86,000 24,080 61,920 Sales are expected to increase to $444,000 in 2021, while interest expenses and the average tax rate are expected to stay constant Part 1 IA Attempt 1/10 for 10 pts. Prepare a pro forma income statement for 2021 using the percent-of-sales method. What is the expected net income? 0+ decimals Submit Part 2 - Attempt 1/10 for 10 pts. We also know the break-down into fixed and variable costs for 2020 COGS SG&A Fixed costs Variable costs 37,000 111,000 55,500 18,500 Prepare a pro forma income statement for 2021 using the percent-of-sales method and distinguish between fixed and variable costs. What is the expected net Income? 0+ decimals Submit