Required information The Chapter 1 Form worksheet is to be used to create your own worksheet version of Exhibit 1-7 in the text. Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell C18 enter the formula "= B6". these answers, find the errors in your worksheet and correct them. Chapter 1: Applying Excel Data \begin{tabular}{|l|r|} \hline Sales & $12,000 \\ \hline Variable costs: & \\ \hline Cost of goods sold & $6,000 \\ \hline Variable selling & $600 \\ \hline Variable administrative & $400 \\ \hline \end{tabular} Fixed costs: \begin{tabular}{|l|r|} \hline Fixed selling & $2,500 \\ \hline Fixed administrative & $1,500 \\ \hline \end{tabular} Enter a formula into each of the cells marked with a ? below Exhibit 1-7 Traditional Format Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: \begin{tabular}{|l|l|l|} \hline Selling & ? & \\ \hline Administrative & ? & ? \\ \hline Net operating income & & ? \\ \hline \hline \end{tabular} Contribution Format Income Statement Sales ? Variable expenses: \begin{tabular}{|l|l|l|} \hline Cost of goods sold & ? & \\ \hline Variable selling & ? & \\ \hline Variable administration & ? & ? \\ \hline Contribution margin & & ? \\ \hline Fixed expenses: & & \\ \hline Fixed selling & ? & \\ \hline Fixed administrative & ? & ? \\ \hline Net operating income & & ? \\ \cline { 2 - 3 } & & \end{tabular}