Updated Views on Case Studies

Have a 4-hour case study coming up and am looking for any updated views on the best overall approach. Have seen some guidance suggesting that the focus should primarily be on the P&L and valuation (DCF and comps), without fully building all three statements. Does that still hold?

If you are only modeling the P&L, is it best practice to include a debt schedule to forecast repayment and interest expense? Do these case studies typically include a written component, or is the submission usually Excel-only then debrief? And what is the best way to allocate time across the exercise, and which areas do reviewers tend to prioritize most?