Checking a box sets a value in a dropdown list field

Christopher Wirth
Christopher Wirth ✭✭✭✭✭
edited 12/09/19 in Smartsheet Basics

Hi folks,

I have a sheet with a checkbox called "Qtly" and another dropdown field called "Lead Status" -- the values in the dropdown are: No Lead, Lead, Active Lead, and Deal. 

I am trying to figure out a formula for when the "Qtly" checkbox is checked, that the value in the "Lead Status" dropdown field automatically gets set to "Lead".

Thanks in advance!