Now do the balance sheet. Again, be sure to tie the balance sheet together by formulas. With the basic format laid out, go back and enter the formula to calculate interest as “Interest rate X Debt.” Press the (F9) key, and you should see the worksheet change. You should be able to press the (F9) key several more times until the numbers stop changing, which means the model has converged to a solution. You should have interest as exactly 6% of long-term liabilities and a balance sheet that balances.