George is planning to set up a new hair salon in a trendy inner city Melbourne suburb. George estimates that his fixed annual costs (which include rent, loan interest, electricity expenses, etc.) will be $150,000. He is planning on employing a total of five hair stylists, who will each work 1,600 hours per year. He plans to charge a fixed price for haircuts ($35 for men, $60 for women), and estimates that 65% of his customers will be women. He is having difficulty determining the pay structure for the hair stylists, and is considering the following three possibilities: Scenario 1: Fixed hourly rate of $40 per hour. Scenario 2: Fixed hourly rate of $20 per hour + a commission on each haircut of 20% of the cost of the haircut. Scenario 3: No fixed hourly rate, but a commission on each haircut of 30% of the cost of the haircut. George would like to know the following:  Under each of the above scenarios, what would be the break-even point in the number of haircuts; i.e., how many haircuts must the salon deliver in order to just cover total costs?  In Scenario 2 (i.e., fixed hourly rate + commission), assuming the salon would deliver a total of 5,000 hairstyles for the year, what would the commission need to be in order for the total costs to be the same as per Scenario 1? Create an Excel spreadsheet that George can use as a decision support tool to answer his questions. The spreadsheet should be designed such that George would be able to use the spreadsheet without any additional documentation.