Sub DemoIt()

    'open excel and vbe windows side-by-side
    '   to see results when break points hit

    'setup values
    Range("A1").Select
    ActiveCell.FormulaR1C1 = "A"
    Range("A2").Select
    ActiveCell.FormulaR1C1 = "B"
    Range("A3").Select
    ActiveCell.FormulaR1C1 = "C"

    'select "source" values and copy
    Range("A1:A3").Select
    Selection.Copy

    'move to "destination"
    Range("B1").Select

    'paste the "picture link"
    ActiveSheet.Pictures.Paste(Link:=True).Select
    Application.CutCopyMode = False

    'check out results
    Stop

    'change values
    Range("A2").Select
    ActiveCell.FormulaR1C1 = "99"

    'notice "destination" changed
    Stop

    'change formatting
    Range("A3").Select
    Selection.Font.Size = 20

    'notice formatting changed
    Stop

End Sub

SheetName!Cell

=Sheet2!B4