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1. Dervv BIS 155 iLab 6 (Week 5) Day Care Center
NEW
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BIS 155 iLab 6 (Week 5) Day Care
Center NEW
Scenario/Summary

2. Your friend, Adair Deske, is considering opening
a day care center. She has started compiling her
assumptions and putting together an Income
Statement. She has determined that she must
make at least $75,000 profit per year in order to
start the business. She has asked you to analyze
her Income Statement and help her determine
whether it is viable for her to start this business.
You have agreed to help her complete her Income
Statement and to perform What-If analysis to help
her look at her potential profitability.
provide a comment in the Dropbox comments
area explaining what you learned from completing
this
iLab activity.
Lab Steps
STEP 1: Open Worksheet and Complete the
Income
Statement

3. Adair needs your help in completing her Income
Statement. She has provided the basic
assumptions, but you need to provide the
calculations that will be used as you perform
What-If analysis.
A. Open Week5_Lab6_Adair_Daycare_Student.xlsx.
Notice that Adair has provided the basic
assumptions concerning her costs and her
revenue.
B. Complete the following calculations.
www.bisl5?evcnuc
• Total Revenue: Multiply tuition per day times
number of days by number of children.
Variable expenses are those expenses that will
depend on the number of children served each
year. Jane has provided the assumptions. Define
annual costs based on the cost per day multiplied
by the number of children multiplied by the
number of days.
» Food Expenses
Supply Expenses

4. Teacher Cost: Create a VLOOKUP function to
determine the annual teacher cost. The Lookup
Value is the number of children. The Lookup Table
is in cells E3:F7. The Index Column is the second
column in the table. You want the closest match.
Multiply the LOOKUP function times the annual
teacher salary.
Total Variable expenses: This will be the SUM of all
of the Variable Expenses (B17:B19).
Summary. Use formulas in these cells because you
will wish to change the values in your assumption
section to see how these changes impact the Net
Income.
Total Revenue should refer to the Total Revenue
cell (B14).
Total Expense is Variable Costs + Fixed Costs.
Net Income is Total Revenue - Total Expense
C. Rename the file according to the file naming
conventions as shown at the top of this page.

5. Your Income Statement should look like the one
below, but it is important that you have created
formulas rather than typing in amounts. As you
perform What-If analysis, the formulas will be
recalculated to show you the results of changing
assumptions.
Image Description
h ISTEP 2: Ana
lyze the Dif
ifference in Total Ex
pense
and Net Income When You Vary the Number of
Students
Adair desires to look at the differences in her net
income depending on the number of children she
cares for. Her house will accommodate no more
than 15 children, and she believes she should
have no less than six children. Because you are
varying only one of your assumptions, you can
develop a one-variable data table. A one-variable
data table

6. will allow you to see the impact of changing one
variable—and see the results on multiple
outputs.
A. Set up the Data Table to display number of
children from 6 through 15. Add a descriptive
title
to the Data Table.
B. Show the Expenses and Net Income for each
change in number of children.
C. Populate the Data Table using the Data tab,
What-If analysis, Data Table tool.
D. Apply Conditional Formatting to Net
Income
that is above $75.000.
Your final Data Table should look something
like
this.STEP 3: Analyze the Difference in Net Income
When You Vary the Number of Students and the
Charge Per Student
Adair also wishes to look at the impact on Net
Income when she varies the number of
students and the charge per student. Use a two-
variable
data table to analyze.

7. A. Set up the Data Table to display number of
children as the row input (6-15) and charge per
student (35-75 in $5 increments) as the column
input.
NOTE: In a Data Table, the information in the
top row of the table is called the row input and
the information in the first column of the table is
called the column input. We usually think of the
top row in Excel as a column header and the
labels in the first column as row labels, so this
may seem a bit confusing. Just remember, in a
Data Table, the top row is row input; first column
is column input.
B. Enter Net Income in the result cell, and
format this cell to display no data.
C. Add a descriptive heading.
D. Create the data table and apply conditional
formatting to Net Income values over $75,000.
Your Data Table will look something like this.
STEP 4: Create Scenarios and a Scenario Summary

8. Adair wants to look at three scenarios. Be sure to
save each scenario with a unique name, and place
the name of the scenario on the sheet, so that
when the scenario changes, the name on the sheet
changes to match the scenario.
Scenario Teacher Salary Supplies Number Tuition
1. Economy 15,000 25 15 35
2. Midrange 26,000 60 8 50
3. High 38,000 100 6 100
She wants to see the Net Income that would be
achieved in each Scenario and compare this to her
original assumptions.
A. Name the cells that will be used in the Scenario.
B. Create the three Scenarios.
C. Create a Scenario Summary.
D. Move the Scenario Summary to the
end of the
workbook.

9. STEP 5: Create a Documentation Sheet and
Provide
a Recommendation
A. Add a documentation sheet to the beginning of
the workbook. Include Author, date Created, Last
Modified, and Contents sections.
B. Provide a recommendation to Adair.
C. Format the documentation sheet to match the
look and feel of the other sheets in the workbook.
D. Add a graphic to the documentation sheet.
Submit your completed workbook to the Dropbox.
Make sure you post a comment about what you
learned when submitting the file.
IMPORTANT: There are two iLabs this week, and
there is a separate Dropbox basket for each one.
Be sure to submit your work for this iLab to the
Dropbox basket labeled Week 5: iLab 6.

10. STEP 5: Create a Documentation Sheet and
Provide
a Recommendation
A. Add a documentation sheet to the beginning of
the workbook. Include Author, date Created, Last
Modified, and Contents sections.
B. Provide a recommendation to Adair.
C. Format the documentation sheet to match the
look and feel of the other sheets in the workbook.
D. Add a graphic to the documentation sheet.
Submit your completed workbook to the Dropbox.
Make sure you post a comment about what you
learned when submitting the file.
IMPORTANT: There are two iLabs this week, and
there is a separate Dropbox basket for each one.
Be sure to submit your work for this iLab to the
Dropbox basket labeled Week 5: iLab 6.