Complex LBO Analysis. We will start with the assumptions for the model, the terms of the deal, the purchase price, the equity contribution, et cetera. Next, we will establish a debt structure to use in this model, and there are options to use either a traditional bank and bond structure or a unitranche. We will then build the sources and uses table and establish the equity investment percentages for the ownership stakes on entry and exit. We'll build a proforma balance sheet as of the deal date. We will then build out the operating model, including the forecast for the earnings and cash flows. To complete this, we will have to be certain to model the debt and interest correctly, and that will be done separately in the debt forecast. We will then build the return scenarios for the ownership stakes. And lastly, we will add the functionality to execute a sale and leaseback transaction, along with a corresponding bridge loan to enhance the returns to the equity stakeholders. This is the order of the steps to complete the model and will help us to stay organized in a complex model. Let's go over to Excel and we'll take a tour of the layout of the model, which is always a good idea when working off of a previously built model.