Here we're given a part complete model for Coca-Cola, a company which has a number of subsidiaries with non-controlling interests.

We're going to complete the model by including the appropriate income statement, balance sheet, and cashflow statement entries in respect of these non-con controlling interests.

Let's start by taking a look at the information provided in the assumptions.

We are given assumptions for the growth rate in the profit attributable to the NCI and also a dividend payout ratio for the NCI.

In the calculations, we have a base calculation for the equity attributable to parent company shareholders, and also a base calculation for non-controlling interests.

We are gonna need to complete both of these in the income statement.

This is nearly complete.

We just need to calculate the income attributable to non-controlling interests.

And in the balance sheet, this is nearly complete, but the equity attributable to parent, company, shareholders and non-controlling interest is blank at the moment.

Finally, the cashflow statement. This is nearly complete.

We just need to calculate the dividends pay to parent company shareholders and NCI dividends.

Now, as a result of all of this, the model doesn't yet balance, so let's create the NCI entries needed.

Starting in the income statement statement, we're gonna calculate the income attributable to non-controlling interests, and we'll do this with the growth rate assumption at the top of the model.

We can now apply this to the prior year figure giving our forecast figure of 29.9.

We now need to copy this to the right to generate our forecasts in subsequent years.

Now that we've calculated the income attributable to nont controlling interests, we can start to build our base calculations, starting with non-controlling interests.

And as always, with our base analysis, we grab the ending balance from the balance sheet.

This then becomes our beginning balance in our first forecast year.

We now need to add to this the NCI net income that we've calculated in the income statement, and we now need to subtract NCI dividends, which will calculate with the dividend payout ratio at the top of the model.

We'll apply this to the income in our base calculation and then multiply by minus one to make it a negative.

We can now sum these together to give our ending balance on non-controlling interests.

This is for the first forecast year, so now let's copy them to the right to show the rest of our forecasts.

Now we can do the same for the equity attributable to parent company shareholders.

And as before, we grab the ending balance from the balance sheet.

This then becomes our beginning balance in our first forecast year.

And then we need to add net income for parent company shareholders.

We'll find this in our income statement.

We now need to deduct the dividends paid.

Now for this item, we're gonna grab the dividend per share forecast from the bottom of the income statement, and multiply this by basic shares outstanding.

Then multiply by minus one to make it a negative number.

The next step is to add in equity issuance or repurchase, and that's in our assumptions.

And now we can sum all of those together to give the ending balance on our equity for parent company shareholders.

We then select all of that and copy to the right.

So we've now finished our base calculations.

We now need to take the ending balance on these and pop them into the balance sheet, starting with the equity attributable to parent company shareholders.

Grab that from the base calculation and then the non-controlling interest now copy to the right for the remaining forecast years.

So that's our balance sheet. Now finished.

We now need to go into our cashflow statement here. We need the dividends, and these dividends are from our base calculation.

We now select both of those and copy them to the right. And we've Now completed all of our entries in our model.

This means that our model should now balance.

So let's go and check that, and we can see that indeed our model does balance, so it has integrity and we have finished.