QUESTION 3 (20 marks) (a) Discuss why 'What-if analysis' plays an important role in modelling process. (5 marks) (b) A Projected Income of Sam Sweet is in the excel file "Q3 data - Income Statement of Sam Sweet.xlsx. Perform three what-if analyses: scenarios, data tables, and Goal Seek. To answer this question, for each of the three analyse, please Clearly identify the input/changing and output variables Insert the corresponding screenshot for the result of the analysis Briefly interpret the results (15 marks) A B Sam Sweet 1 2 3 D E Income Statement For the Years Ending Dec 31, 2019 2019 95,000 5 6 7 8 9 Revenue Sales revenue (Less sales returns and allowances) Service revenue Interest revenue Other revenue Total Revenues 62,000 157,000 1,000 63,000 8,000 5,200 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Expenses Advertising Bad debt Commissions Cost of goods sold Depreciation Employee benefits Furniture and equipment Insurance Interest expense Maintenance and repairs Office supplies Payroll taxes Rent Research and development Salaries and wages Software Travel Utilities Web hosting and domains Other Total Expenses Net Income Before Taxes Income tax expense 55,000 132,200 24,800 9.920 14,880 Income from Continuing Operations Below-the-Line Items Income from discontinued operations Effect of accounting changes Extraordinary items 40 41 42 43 44 45 46 47 48 49 Net Income 14,880 Data