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Default Need help with a formula

Hi All,

I want to have two formula in one cell.

Let me explain.

I have four cells that I need to input a "Y" or "N" into them. They need to be in order for the person to qualify. so
F8="N",G8="Y",H8="Y",I8="Y" this is what they need to get to qualify.
But if any one of these change they do not qualify e.g- f8="Y",G8="Y",H8="Y",I8="Y".

The formula I am using at the moment is this:-

=IF(AND(F2="N",G2="Y",H2="Y",I2="Y"),"Y")

This works fine if they qualify, but when I try to add a second formula to say they don't qualify i get a #value error.

Any help on this matter is will be greatly appreciated.

Thank you

Stephen.
 
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