Once the income statement adjustments have been made, we can then move on to the balance sheet. Adjustments. To start off with, we need to make sure that the new project assets are included within our PPE calculations, which just requires an adjustment to the formula in D 66.

We've already calculated the ending project assets in our calculation in row 54, so I can just grab that and don't forget to copy it across to the right as well.

The other number that needs adjusting in the balance sheet is our debt number. Now, for the debt, I'm gonna add another row because I'm going to end up wanting to calculate my interest on my debt in the end. So I'm going to add a row and label it the new bond. Now, for this new bond there was zero outstanding at the end of the 20, 24 year, and for the forecast periods, I can then take the historic number and add to that the flows for this year, which are up in the assumptions that we started off with this correctly results in there being no bond left at the end of the 2030 year. So that's the balance sheet adjusted. But you'll notice that the balance sheet isn't in balance when we look at the balance sheet check row of 83. But if we go down, we can then see that's because we haven't adjusted the cash flow statement. So let's make adjustments to this. Each intern, our depreciation and amortization only picks up the existing facilities. So then we've got to go and grab the new depreciation. It's row 34 for the existing number, so row 35. We've gotta add that on and copy it across to the right for every year. We've then also got to adjust our CapEx to include not only the CapEx on the core business, but also the new facility. And we've gotta deduct this new CapEx, which I'm gonna grab from the calculation in row 52. It's a deduction because it starts out as a positive number, and then I've gotta copy that to the right as well. And then we've also got to think about the cash flows in relation to the new debt instrument, which we're gonna do by adding in from our balance sheet, the bond and deducting from that, the prior year number. So we've got column D minus column C twice for the long term debt and the new bond, and copy that across as well. And what you can see once we've done this, is that we then have a balance sheet that balances.