How do you structure a 60-minute LBO modeling test at Goldman / Morgan Stanley?

Spend roughly 5 minutes reading, 10 on sources and uses / assumptions, 15 on operating forecast, 15 on debt schedule and returns, 10 on sensitivities and checks, and 5 on cleanup. Build simple and robust. Prioritize correct mechanics over fancy formatting. Make sure the balance sheet / cash sweep / returns work before adding detail.