IF statements in Excel evaluate a condition and return one value if the condition is true and another value if the condition is false:
=IF(condition, value_if_true, value_if_false)

Type the following IF statement that returns the word "Rich" if the value in cell B3 is greater than $100,000 and otherwise returns "poor".
=IF(B3>100000, "Rich", "Poor")
Remember that in Excel, text goes inside quotation marks, but numbers do not.