Please help! Will iWorks Numbers work with XLS or Excel Spreadsheets

A friend of mine wants me to make her a spreadsheet and I use a PC with MS Office Excel. My question is... Will she be able to use and view a .xls spreadsheet on her new Mac? She has either Iworks Numbers 2008 or 2009. I'm not absolutely sure. I know it's a new computer. The spreadsheet will be fairly basic and the formulas will be simple addings for misc. expenses.
Please let me know if this will work.

Thanks! The spreadsheet I made is a basic list for expenses that automatically adds the entered amounts in each column to sum up the individual expense. I also have a column on the right that adds the amounts entered in each row. Lastly I have one cell which provides a grand total of all expenses combined.
From your reply I'm afraid I will have to make a road trip. As my friend lives quite a distance from me. I was hoping to simply create and email the Excel file to her. With my formulas to you think they will conflict with Iworks Numbers? How much different is Mac Numbers to Excel? I have never seen or used it. The formulas I used are simple =SUM(X:X)formulas and the first calculating cell I have set is not A1 but D4 etc.
I'm sorry to have so much to ask but will the layout stay the same and what will happen to any protection settings I set?
Thanks again for all your time and help to everyone who replied! It's much appreciated!

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