So we start by skipping over the short-term borrowings or revolver, come back to that later and we move on to payables. If I go to the Assumptions tab, payables is payables days. So I divide that by 365. It's okay to hard code in 365. We try not to hard code in many numbers, but 365's okay. And I then want to multiply that by the operating costs. If it was receivables, I'd multiply it by revenues, but it's payables. So I'll multiply it by operating costs and I want to change it from a negative to a positive.

Accrued expenses. Back to the Assumptions tab. This one is a percentage of revenues. So back to the top, find our revenues, multiply it through.

Income taxes payable. Our assumption says it's a percentage of tax expense. That makes sense. As there's often a delay between having a tax expense and then paying your taxes, the amount on your balance sheet is related to your tax expense, 4%. So I'll multiply that up.

Find my tax expense in the income statement, and there it is. I need to change that from being a negative to a positive. So I'll multiply it by minus one and my total current liabilities I can copy from left to right. Now, long-term debt, if we go to the assumptions tab, we can see that we're given a repayment of five, so I'm going to take that negative five. I'll add it onto last year's 25, come down to 20. Other non-current liabilities. The assumption was simply at 10.1% multiplied by revenues.

Total liabilities I can copy to the right. The last thing we need then is total equity. Now, for that, we need a base analysis. So let's go up to our calculation section and here we've got room for it. I'll start with last year's equity. So that comes down from the balance sheets. Let's go get that 455.8. That becomes next period's beginning figure. I then add on the net income.

Now we've got the choice of net income or recurring net income. I'm gonna have to choose the net income. I need to choose figures that are actually going through the accounts because they will affect things like cash, it will affect things like dividends, which are based off of real net income, not a kind of made up, artificial recurring net income. Next, I've got the dividends. I'm going to make sure this looks like a negative and I'm gonna take the dividend per share but I need to multiply it up by the number of shares. And I've got two to choose from. I could choose the basic WASO or the diluted WASO. Again, I'm gonna choose the basic WASO. The basic WASO is the real number of shares that really exist and that will really receive a real cash dividend. So that goes out and my ending equity, beginning, add, subtract equals my ending of 498.0. That can go into my balance sheets. So scroll back down, find total equity, press equals.

498. That means I can now copy across total liabilities and equity.

And lastly, I can copy across my balance check. Now, normally I'd get quite excited here and I think, oh, I can copy this across and I hope it's going to be a zero but I'd be in for a nasty shock. But the reason why we've got this unbalancing is probably because we still haven't done cash and our short-term borrowings. Once we've done our cash flow statement and we fill them in, fingers crossed we'll have a balanced balance sheet.