The three tab is now ready to combine the one and two tab, the base case, and the add-on.

We've got lots of assumptions built for us already, which is great, and we've already brought through the base case information and you might notice this just links through to the one tab sales.

What we need to do now is go and find the sales for the add on.

So let's go and find it for year 54 or year one.

Go to the two tab.

Scroll down, I'm gonna find their sales and there it is.

But I'd like to do something else.

If I go back to the top of the three tab, we've got this add on acquisition switch, and if I click on that, you might notice it's been called add-on switch.

This switch will allow me to turn the add-on figures on and off, so I can then compare the two different scenarios.

If I copy that into year three, fantastic.

We see the sales come through, we need to repeat that a couple of times.

We're going to do it for the EBIT, multiply that by the add-on switch copy into year three.

Yep, I can see it's come through.

Then in the cashflow, I'll need to do it for depreciation, multiply by the add-on switch, and the same for CapEx.

I just need to make one change with the CapEx.

I just need to make sure that it becomes a negative. Well multiply it by minus 1. Fantastic.

It comes through as negative 5.4, and my cashflow available for debt repayment is 250.5.

We are now set up to start paying off some debt and we've got debt repayments already in here for the base case senior debt. I need to work out if I've got any cash available for our next debt repayment, which will be the add-on senior debt.

So I just take the cash we had available.

Then add on to that, the repayment.

Ah, that means subtract away and we have no cash here.

I'll copy that to the right a little bit, unfortunately no cash.

Let's move on. Let's start calculating our repayment of add-on senior debt.

Now, initially it starts with a 0 because we are not going to be buying the add-on at in year zero.

Then my beginning links back to last year's ending.

But now the issuance, this is the big question mark.

I need to say if it's the add-on year, give me the add-on debt, but only if the add-on switch is ticked.

So we're going to use an IF function to do that.

And I'm going to say if we're in the add-on year, so if our year count equals the add-on year and I can just type that in.

If we're in it, unfortunately we're not in this case, but if we were in it, we go to the two tab and up in our sources and uses of funds, I can grab that senior debt, then I'll lock onto that.

But I only want that if we've got the add-on switch turned on.

So I multiply that by the add-on switch.

So if all of that's the case, give me the number, otherwise give me a 0.

So unfortunately nothing happens in year one, but if I copy that to the right into year two, fantastic.

We are buying the add-on company at the end of year two. The numbers come through great.

In terms of our repayment, I'm going to want to use the minus min.

Do I have any cash available? Do I have any beginning balance? No.

And unfortunately it makes no difference for a couple of years.

And then the ending balance is the sum of the items above.

Last up then I just want to include down in my debt repayment calculation, just want to include that senior add-on debt.

I link up to that repayment. Unfortunately, it was 0 in this case.

We've now included the add-on in the income statement, the cash flows and in the debt down to our ending debt repaid.