You estimate that, by the third full year, the new business will turnover 150 million per annum with net profits at 48 million, and profits, after tax, will be 31 million. You think the capital requirement for the expansion is in the region of 60 million. The directors have indicated that you can borrow some, or all, of the funding required if you think it is appropriate. They have indicated that they would not support issuing new shares. The Board have agreed that you need to present financial information for the proposal as if it is in the third year only, (you will not need to provide information about years one and two). The board is expecting to see some financial analysis to cover by business, at least the operating profit, return on capital employed, capital, and debt and interest if there is any.