XYZ University also holds a 40% ownership share of Green Publishing, a wholesaler of textbooks. XYZ is reporting $344K as earnings from this subsidiary on their income statement. You contacted Green University and obtained the information outlined on the Green University worksheet from them. Create a single array formula to calculate Green University's net income. Multiply it by 40%. Is the amount equal to $344K?
Data from Green University Financial Information for the Year Under Review:
Sales Price per Product Id Units Sold* Unit Cost per Unit Commission**
1001 452 1391 584 13%
1002 353 1610 773 12%
1003 443 1381 608 13%
1004 325 1311 629 12%
1005 61 1099 440 12%
1006 273 1029 473 15%
1007 229 1417 623 13%
1008 146 1497 659 15%
1009 293 1942 952 11%
1010 111 1501 645 15%
1011 111 1532 735 12%
1012 189 1565 689 13%
1013 471 1303 652 10%
1014 128 1500 720 10%
1015 351 1169 479 11%
1016 14 1165 489 12%
1017 348 1303 625 13%
1018 8 1516 758 10%
1019 120 1949 780 15%
1020 271 1257 528 15%
1021 117 1574 630 13%
1022 337 1526 656 15%
1023 E 1969 788 10%
1024 228 1646 741 11%
1025 372 1877 863 12%
Fixed Costs:
Salaries Travel Rent Utilities Taxes Other
$1,000,000 $300,000 $275,000 $200,000 $400,000 $500,000
Net Income:
<place the array formula here>
Ownership Share:
XYZ Share
*one unit = a box of 100 textbooks
**Commissions are calculated as a % of revenue
