please solve and provide excel formula for each wondow

Lake Athletics sells two distinct product lines: Apparel and Equipment 1 1 Lake Athletics sells two distinct product lines: Apparel and Equipment. 2 The income statement for each product line appears below. KE ATHLET Income Statement For the Year Ended December 31, 20X1 Apparel Equipment Amount Percent Amount ent g Net sales 11 Gross pront 12 Operating expenses 13 Operating 14 15 Income before tax 16 Income tax expense 17 Net income 18 19 Required 20 1. Use appropriate Excel formulas to perform vertical analysis and complete the "Percent" columns 21 for both product lines above. Express each amount as a percentage of net sales. 22 Note: You should use absolute references in the divisors of all formulas 23 2. Use the Excel IF function and the completed vertical analysis above to answer each of the income $3,150,000 $5,550,000 9 Net sales 10 Cost of goods sola 11 Gross pronit 12 Operating expenses 13 Operating income 14 Other income 15 Income before tax 16 Income tax expense 17 Net income 18 19 Required 20 1. Use appropriate Excel formulas to perform vertical analysis and complete the "Percent" columns 21 for both product lines above. Express each amount as a percentage of net sales. 22 Note: You should use absolute references in the divisors of all formulas. 23 2. Use the Excel IF function and the completed vertical analysis above to answer each of the 24 questions below: 25 Which product line has the highest gross profit %? Which product line has the highest net income %? 2 27 28 29 30 31 Type here to search