Good morning. My name is Debra Taylor and I'm an MD within the Investment Bank. I'm really pleased to have you joining our team and we are really looking forward to working with you. It's actually a great time to joining the team as we would like your assistance on a new project that we've just started this week. The project is for one of our clients revolving and they've asked us to conduct a strategic review of their business.

Now, I dunno if you're familiar with Revolve, but they are a US-based online premium fashion retailer and they operate within the apparel industry.

Now, in terms of your task for today, I would like you to finish building a three statement model for the company. One of our colleagues did start building the model yesterday, but only got as far as building some basic operational forecasts for the income statement and balance sheet and didn't have a chance to finish it as they were too busy with other tasks.

I therefore need you to review and update the forecast assumptions, build a forecast cash flow statement, and use this to calculate cash and short-term debt and calculate net interest expense using average balances.

Now, to assist with reviewing the forecasts, please can you make sure that they are broadly consistent with consensus numbers for revenue and ebitda.

It's also worth flagging that someone else in the team has done a bit of research on the company's latest results and industry data, and they've summarized their findings in a memo. Please can you reflect this information in your forecasts.

The memo and the part built model are available for you to access on our team's shared drive.

The final thing to flag is that it's really important that you understand and can explain the trends in your model. You'll notice that the model has some operating statistics at the bottom, so please be prepared. Justify the trends in these. When you hand the completed model to me for review.

I expect this work to take you about an hour, so please drop me an email when it's ready for review. Thanks so much for your help with this and I'll catch up with you later. Bye.