PLEASE SHOW HOW TO SOLVE USING EXCEL, PLEASE INCLUDE ALL FORMULAS USING FOR EXAMPLE: =PV(C42,C41.C40,0,0)

H22 X M 1 0 A B D F G H J Meyerson's Bakery DO NOT MODIFY 1) Complete the Income Statement. Using the given data. (5 pts) 2 Projected Income Statement for Pie Line Score Possible 3 0 20 2) What is the Operating (EBIT) break-even units (round to whole 4 Sales number) and resulting Sales in dollars? Do NOT use Goal Seek. I 5 Variable Costs want to see FORMULAS (5 pts) 6 Fixed Costs 7 Earnings Before Interest and Taxes 3) Using the Target Level of EBIT, what is the number of unit sales 8 Interest Expense needed? Again, use a FORMULA (5 pts) 9 Earnings Before Taxes 10 Taxes 4) Now use GOAL SEEK to determine the Price per Pie to Break Even 11 Net Income on NET INCOME and place the answer in cell B28. (5 pts) 12 13 Additional Data 14 Estimated Pie Sales in Units 2.500 15 Price per Pie $10.00 16 Variable Cost per Pie $3 17 Fixed Cost $22,000 18 Interest Expense $3,000 19 Tax Rate 34% 20 #2 - DO NOT USE GOAL SEEK - USE THE FORMULA 21 Operating Break-even Points 22 Units 0 5 23 Resulting Sales at Break-Even Units Sold 24 #3 - DO NOT USE GOAL SEEK. USE THE FORMULA 25 Target Level of EBIT $15,000 26 Unit Sales Needed to Reach Target EBIT 0 27 #4 NOW YOU CAN USE GOAL SEEK 28 Price per Pie to Break Even on Net Income 0 29 Put your answer here but do not save the results to the above model. 30