Use nested XLOOKUP to perform both a vertical and horizontal match. First, look for Gross Profit in column B, then look for Qtr1 in C5:F5, and finally return the value at the intersection of the two.

1. Show the formula of XLOOKUP.

2. Show this is the same as using the INDEX and MATCH together.

Q7. Using nested XLOOKUP to perform both a vertical and horizontal match. First, look for Gross Profit in column B, then look for Qtr1 in C5:F5, and finally return the value at the intersection of the two. (i) (ii) Show the formula of XLOOKUP. Show this is the same as using the INDEX and MATCH together. B D E F G 1 2 Quarter Qtr 1 Gross Profit Net Profit Profit% 25000 19342 29.30% 3 4 5 6 7 8 Income Statement Total Sales COGS Gross Profit Qtr 1 50,000 25,000 25,000 Qtr 2 78,200 42,050 36,150 Qtr3 89,500 59,450 30,050 Qtr4 91,250 60,450 30,800 Total 308,950 186,950 122,000 9 10 412 11 Depreciation Interest Earnings beforrre Tax 899 513 23,588 791 853 34,506 202 150 29,698 956 29,432 2,304 2,472 117,224 12 13 14 Tax (18%) 4,246 6,211 5,346 5,298 21,100 15 16 17 Net Profit Profit% 19,342 29.30% 28,295 27.80% 24,352 23.40% 24,134 27.60% 96,124 26.90%