A. Create the formulas needed to calculate the following for each item: Net Selling Price = Selling Price *( 1- Sales Discount) Total Sales = Sum( Daily Sales) * Net Selling Price Total Profit = Total Sales-( Cost per item * sum( Daily Sales)) Average Profit % = Total Profit / Total Sales B. Create Grand Totals for the Total Sales and the Total Profit columns. C. Create the formula that will average all of the item profit %. D. Create formula to calculate the Remaining Profit needed to make the Marching Band goal for the fundraising campaign. Remaining Profit = The Profit Goal- Total Profit( all items) One of the strengths of Excel is its ability to make tedious and repetitious calculations, for speed and to reduce errors. Like all tools, there is always the possibility that you could use it incorrectly, so with formulas, it is important to verify the formulas you enter are correct. Note: Refer to the Creating Formulas video in the Lesson tutorials for help with this step. If you have done the Tutorial on formulas, you will have noticed, during the creation of the formulas, that there are many ways to accomplish similar results. Remember that arithmetic formulas follow an order in which calculations are performed. I make it a personal habit to always use parentheses() to order the calculations in the order in which I want them performed, so as not to make a mistake. For example, if I enter the following formula into Excel, what is the outcome that I wanted? 6 + 4 * 10 Did I mean to have a result of 100 [( 6 + 4) * 10 ] or 46 [ 6 +( 4 * 10)]. Excel would give you 46. Excel will try to follow the following order of execution whenever possible, but I would use the best practice of always using parentheses to be certain of what you want. 1. Parenthesis 2. Exponents 3. Multiplication and division 4. Addition and subtraction STEP 5: Clean-Up