Here is a tabular representation of what I would like to achieve with an UPDATE statement.
+----+----+---+---+----+----------+---------------+---------------+ |
I actually found a solution to this problem using local variables in the SET statements. See below.
UPDATE [EXAMPLE] SET [Calc A] = @calc_a : = A - B , [Calc B] = @calc_b := @calc_a / D , [Calc C] = B / @calc_b