For the bottom half of the income statement, we start by skipping over the net interest expense. We'll come back to that once the model's all finished and then we can start dealing with the circularity. So we move on to other non-operating income or an expense. I need the assumption that comes from the Model 1 Assumptions tab. Take myself to row 22 and it's a 0.9. Non-recurring expenses. Again, on the Assumptions tab, it's just a zero.

Earnings before tax, that's a subtotal.

And I've already got the correct formula in the previous column, so I can just copy that to the right. I know it's correct, I know it's consistent and I won't make an error trying to type it in a second time.

The income tax expense, I'm going to need to make this a negative. If I go to my model, assumptions, if I go to the assumptions, there's my effective tax rate, 36%, and I'm gonna multiply that by the earnings before tax.

Net income and recurring net income, I can just copy those formulas from the historical period. I don't need to recreate them.

Then we move on to recurring diluted EPS. Now, that means I need to take the recurring net income and then divide it by the diluted WASO. I haven't got that yet, so I'll divide it by that blank cell. It gives me a DIV/0 for now, but that will update Dividend per share. I can see that last period we had a figure of 0.25. We're going to grow that. So I'm going to open brackets and take one plus a growth assumption. On my Assumptions tab, that growth was 10%. Close the brackets and then multiply that by last year's figure. There it is. It's grown by 10%. Basic WASO, already given to us on the Assumptions tab. We've taken it just staying flat every year going forward and we can see that the relationship between basic and diluted was that it was the same historically. We're going to have the same going forward as well. So I'll go back and grab that diluted figure and my recurring diluted EPS has updated as well.