Please see the attached excel file and complete it in its en

Please see the attached excel file and complete it in its entirety (Problems 1 & 2 located at the bottom tabs of the workbook). Any questions, please feel free to contact me. Problem 1 Instructions A. Prepare a CVP income statement based on these cost estimates. B. Commute contribution margin ratio. C. Compute the break-even point in (1) units and (2) dollars. D. Compute the margin of safety ratio. E. Determine the sales dollars required to earn net income of $1,000,000. Problem 2 Instructions a. Prepare a CVP for Elliott based on the current production. b. Compute contribution margin ratio for current production. c. Compute breakeven dollars for current production. d. Prepare a CVP based on the proposed equipment upgrade. e. Compute contribution margin ratio based on the proposed equipment upgrade. f. Compute breakeven dollars for current production. g. Should Elliott proceed with the proposed upgrade?