BIS 155 Lab 2 of 7: Excel’s Advanced Formulas & FunctionsBIS155 Lab 2 of 7: Excelâs Advanced Formulas & FunctionsYou are an intern at First National Bank working in the loan department, and your boss has asked you to prepare the monthly âNew Loan Reportâ for the Board of Directors. This analysis report will clearly list and summarize all new loans for residential housing in the past month. The summary area includes the loan statistics as labeled data in the data file. The format of the report is appropriate for the Board of Directors for the First National Bank.