CFI-Excel-eBook

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The Corporate Finance Institute ExcelThe input formula is shown below:We will get the results below.Conditional formatting didn’t highlight cell E5. After checking, there is a formulainserted into the cell.The Excel ISBLANK function will return TRUE when A cell is actually empty. If acell contains a formula that returns an empty string (i.e. “”), ISBLANK won’t seethese cells as blank, and won’t return TRUE, so they won’t be highlighted asshown above.When we use a formula to apply conditional formatting, the formula isevaluated relative to the active cell in the selection at the time the rule iscreated. In this case, the formula =ISBLANK(B4 is evaluated for each cell inB4:G11. As B4 is entered as a relative address, the address will be updatedeach time the formula is applied, and ISBLANK() is run on each cell in therange.corporatefinanceinstitute.com92
The Corporate Finance Institute ExcelExample 2Suppose we wish to get the first non-blank value (text or number) in a one-rowrange, we can use an array formula based on the INDEX, MATCH, and ISBLANKfunctions.We are given the data below:Here, we want to get the first non-blank cell, but we don’t have a direct way todo that in Excel. We could use VLOOKUP with a wildcard *, but that will onlywork for text, not numbers.Hence, we need to build the functionality by nesting formulas. One way to do itis to use an array function that “tests” cells and returns an array of TRUE/FALSEvalues that we can then match with MATCH. Now MATCH looks for FALSEinside the array and returns the position of the first match found, which, in thiscase, is 2. Now the INDEX function takes over and gets the value at position 2 inthe array, which, in this case, is the value PEACHES.As this is an array formula, we need to enter it with CTRL+SHIFT+ENTER.We get the results below:Click here to download the sample Excel file.corporatefinanceinstitute.com93
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