Problem 8-7 Complete the steps below using cell references to given data or previous calculations. 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 type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. Castle View Games would like to invest in a division to develop software for video games. To evaluate this decision, the firm first attempts to project the working capital needs for this operation. Its chief financial officer has developed the following estimates (in millions of dollars): Cash Accounts Receivable Inventory Accounts Payable Year 1 6 21 5 18 Year 2 12 22 7 Year 3 15 24 10 24 Year 4 15 24 12 25 Year 5 15 24 13 30 22 Assuming that Castle View currently does not have any working capital invested in this division, calculate the cash flows associated with changes in working capital for the first five years of this investment. Net working capital (million) Net change in working capital (million) Year 1 $14 $14 Year 2 S19 S5 Year 3 $25 $6 Year 4 S26 S1 Year 5 $22 -S4 quirements 1. Start Excel - completed. 2. In cell C15. by using cell references, calculate the networking capital for year 1 (1 pt.). 3. To calculate the networking capital for years 2 thru 5, copy cell C15 and paste it onto cells D15:G15 (1 pt.). 4. In cell C16, by using a cell reference, calculate the net change in working capital for year 1 (1 pt.). 5. In cell D16, by using cell references, calculate the net change in working capital for year 2 (1 pt.). 6. To calculate the net change in working capital for years 3 thru 5, copy cell D16 and paste it onto cells E16:G16 (1 pt.). 7. Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed