File Home Insert Page LayoutFormulas Data Review View Arial B l u.·?». , Alignme

Question

File Home Insert Page LayoutFormulas Data Review View Arial B l u.·?». , Alignment Number Conditional Format as Cell Cells Editing Paste Clipboard A3 Formatting Table Styles Font X Sales Precision Building Task Instructions In cell B7, create a formula using external and internal worksheet references, that subtracts cell B9 on the Expenses worksheet of the PB Expenses xlsx file, from cell B5 on the Income Statement worksheet of the PE Financials.xlsx file Profit and Loss Statement 3 Sales 4 Direct Costs 5 Gross Margin 55,140,555 35,841,361 19,299,194 7 NET INCOME 10

Explanation / Answer

If the external xlsx file PBExpenses.xlsx is in the same folder as PBFinancials.xlsx, then we can reference the cell B9 of external worksheet 'Expenses' of file 'PBExpenses.xlsx' as following:

Write the following formula in cell B7 of Income Statement worksheet in PBFinancials.xlsx file:

B7 =B5 - [PBExpenses.xlsx]Expenses!B9

If the external file is in a different folder, we can reference it as:

B7 =B5 - 'C:Reports[PBExpenses.xlsx]Expenses'!B9

Replace 'C:Reports with the actual path where PBExpenses file is residing.

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