ou are new to the staff of Summit Ridge Mountain Resort. One of the benefits to your employment is a free mountain ski pass. You are anxious to complete your work and enjoy a run down the mountain but know management is looking to you for important details and analysis for the ski resort overall. This week, management has asked that you begin to prepare a report for the Village Shop sales. The report will summarize all sales of all items and include the total profit-to-date with the amount remaining to reach the profit goal. You will open the partially completed workbook, create formulas, and format your work professionally.ÿAfter completing the steps below, turn in one Excel 2016 workbook. Rename the workbook with your lastname_first initial_Week1_Lab. xlsx. Example: If your name were Jane Doe, your workbook would be Doe_J_Week1_Lab.xlsx.When submitting the workbook, provide a comment in the Dropbox comments area explaining what you learned from completing this lab activity. Make certain you compare your finished work with the Grading Rubric included here.ÿYou will be using Microsoft Excel 2016 for this lab.Be sure you have read the required chapter materials and reviewed the hands-on exercise videos located on the Lesson page before you begin the lab.Please do not rely solely on the hands-on exercise videos to complete this week’s lab. The videos provide detailed examples walking you through the hands-on exercises. Applying the hands-on exercise examples will provide both practice and instruction of what to complete.ÿFor example, your final assignment file should include two worksheets (Documentation and Sales-Data).Begin: Opening and SavingDownload the spreadsheetÿWeek 1 Lab – Summit Ridge Mountain Resort Student.xslx. You will be prompted to save the file. Click yes.ÿOpen the saved file from your Download folder on your computer.ÿNote: If you are using the Remote Lab environment, you will need to follow the instructions for uploading the file. These instructions can be found on the Lab page when you click on the Lab icon on Course Resources.To save the spreadsheet with a new file nameopen the workbook in Excel 2016; and in Excel, click File then Save as and rename it as lastname_first initial_Week1_Lab.xlsx (Jane Doe would save the file as Doe_J_Week1_Lab.xlsx).Step 1: Adding a Documentation SheetInsert a new spreadsheet into the workbook.Change the tab name from sheet 2 to Documentation. The documentation sheet should be moved to the first sheet in the workbook.ÿInclude your name, the date, and the purpose of the spreadsheet.Make sure you include block color formatting and text wrapping as needed. Your documentation sheet should look something like the one below.Step 2: Adding Calculations (Formulas)Now we need to begin working on the worksheet with all of the data.ÿÿCreate the formulas needed to calculate the following for each item.Column N: Total Quantity Sold = Sum of all Daily SalesÿColumn O: Net Selling Price = Selling Price * (1 – Sales Discount)ÿColumn P: Total Sales = Total Quantity Sold * Net Selling PriceÿColumn Q: Total Profit = Total Sales – (Cost per item * Total Quantity Sold)ÿColumn R:ÿ Average Profit % = Total Profit / Total SalesCreate a Grand Total for the Total Profit column and place it in cell B21.Create a formula to calculate the Remaining Profit needed and place it in cell B22.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. Notice that the daily sales columns between columns C and N are hidden in the picture below.ÿÿhttps://devry.equella.ecollege.com/file/bdd8662e-d094-47ef-b3c5-8db5b04d10fb/139/image_–_wk1_-_formulas.pngStep 3: FormattingApply formatting to your spreadsheet.Your goal is to take into consideration readability, reliability, and reusability. Remember that presentation has an impact on the viewer, and professional appearance is important for reporting data, just as personal appearance impacts perception. The goal is to make the data more readable and possibly to highlight data that might otherwise be lost in many numbers.The minimum formatting requirements (per the Grading Rubric) are the following.ÿTitle Rows formatted as titles, centered across all columns A?RApply text wrapping to the column headers.Make professional font size and color changes.Make use of shading and borders.Format for currency, percentage, and numeric formatting.Step 4: Professional Appearance (Cleanup)Cleanup the formatting of your report, taking into account professional appearance.The Minimum Requirement (per the Grading Rubric)Apply a color and assign a descriptive name to each tab (sheet) in the workbook.Hide the Daily Sales columns (D?M).Create a custom page header with your professor’s name and your name.Set the page orientation to landscape.Remember, professional appearance doesn’t only promote better readability of your report, it represents you as a professional.https://devry.equella.ecollege.com/file/bdd8662e-d094-47ef-b3c5-8db5b04d10fb/139/image_–_wk1_-_finished_lab.PNGSave your Excel file. Saving your file often is good practice (Ctrl + s).Your Excel file should contain two worksheets.DocumentationSales-DataRemember to provide a comment in the Dropbox comments area explaining what you learned from completing this lab activity.ÿSubmit your completed Excel file to the Dropbox (see the Deliverables above).Keep this finished work, because you will be using it to begin the lab for Week 2.