Juanita rents ATVs to tourists, and her business is located just outside a tourist area in Minnesota. Tourists rent for either a half-day, or a full day. Consider information items 1-4 below, and then the information in the table:

1. Juanitas ATV fleet has 25 vehicles total, and this was constant throughout the year.

2. Juanita operates 52 weeks/year, 12 months/year.

3. In the table below, some variable costs are per week and some are per rental; fixed costs are per month.

4. During a typical week Juanita has a total of 100 rental transactions. 70 of these rentals are for half day periods, and the remaining 30 rentals are for a full day.

A

Price Juanita charges per rental ($)

half-day

full-day

Variable cost per ATV per week ($)

maintenance

fee paid to county

Variable cost per ATV per rental ($)

half-day

full-day

Fixed costs per month ($)

insurance

property costs

advertising

misc.

Provide an Excel formula that would compute Juanitas profit for a year. The formula will have several parts, so put some words under each part to indicate what you are doing. For example, write fixed under the part of the formula that refers to fixed costs. Every portion of your formula must be clearly labeled, and this determines how partial credit is assigned. Also, where possible, reference cells. So do not enter numbers if a cell reference can be made (reference the cells).