Working through mocks like crazy. I have a doubt regarding the questions where it says calculate bla, show your calculations:

Should you quote the original formula as basis for your calculations (CAPM for example with the placeholders, such as R=Rf+beta(ERP)). Or do you get right to the point, plugging in the numbers from the case without showing the basic formulas?

Do you just show your calculation with the end result underlined or do you add a statement saying “The expected portfolio return is bla percent.”?
Basic questions, but I am trying to cut my answers to the bone to save time on the AM part.
Thanks for your help.
best, nestor