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Adding a text to a cell in Excel using Formula requires use of ampersand operator, CONCAT function, or the LEFT, RIGHT, and LEN functions.
Look to the Ribbon and find the Fill Color button. Choose your color and right away the cell will change. You can do the same with fonts by selecting the Font Color icon.
Instead, select the cell containing the formula, and double-click the fill handle rather than dragging it. In an instant, Excel duplicates the formula down the column until it reaches a blank row.