To animate the word 'Source' which is a part of Punch Line 2, follow the steps given below.

1. Insert a new layer (Choose Insert > Layer) above the layer named as 'Layout 2'

2. Rename the layer as 'Source'

3. Insert a Blank Keyframe (Choose Insert > Blank Keyframe) at frame 84 of the layer named as 'Source'

4. At frame 84 of layer named as 'Source', type the following text 'Layout with' with the Text Tool and in the Properties panel apply the following text settings : Text Type = Static Text, Font = Arial, Font Size = 16, Text (fill) Color = #FFFFFF, Text Style = Bold and Text Align = Align Left.

5. Select the text 'Source' with the Arrow tool, convert it into a Movie Clip (choose Insert> Convert to Symbol) with the center Registration point selected and name it as 'source'

6. Choose Window > Info

7. In the Info panel, keeping top-left Registration point selected, set x position = 300 px and y position= - 25 px.

8. Select frame 91 on layer named as 'Source'

9. Choose Insert > Keyframe

10. Select the 'source' Movie Clip at frame 91 on layer named as 'Source'

11. Choose Window > Info

12. In the Info panel, keeping top-left Registration point selected, set x position = 300 px and y position= 38 px.

13. Select frame 87 on layer named as 'Source'

14. Choose Window > Properties

15. In the Properties panel, set Tween = Motion and Ease = 100.

16. Select layer named as 'Source'

17. Choose Edit > Copy Frames

18. Insert a new layer (Choose Insert > Layer) above the layer named as 'Source'

19. Select the newly added layer and Choose Edit > Paste Frames

20. Automatically it will take the layer name as 'Source', rename it as 'Source 1'

21. Select all the frames form 84 to 91 of layer named as 'Source 1' and drag them 1 frame further.

22. Select the 'source' Movie Clip at frame 85 on layer named as 'Source 1'

23. Choose Window > Properties

24. In the Properties panel, set Color Style = Alpha and Alpha Amount = 50%.

25. Similarly, insert a new layer (choose Insert > Layer) above the layer named as 'Source 1'

26. Select the newly added layer, Choose Edit > Paste Frames and rename it as 'Source 2'

27. Select all the frames form 84 to 91 of layer named as 'Source 2' and drag them 2 frames further.

28. Select the 'source' Movie Clip at frame 86 on layer named as 'Source 2'

29. Choose Window > Properties

30. In the Properties panel, set Color Style = Alpha and Alpha Amount = 20%.

31. Select frame 93 on layer named as 'Source 1' and choose Insert > Blank Keyframe

32. Select frame 94 on layer named as 'Source 2' and choose Insert > Blank Keyframe

33. Insert keyframe (choose Insert > Keyframe) at frame 113, frame 242, frame 249 and frame 254 on layer named as 'Source'

34. Select the 'source' Movie Clip at frame 113 on layer named as 'Source', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 300 px and y position= 48 px.

35. Select the 'source' Movie Clip at frame 242 on layer named as 'Source', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 300 px and y position= 48 px.

36. Select the 'source' Movie Clip at frame 249 on layer named as 'Source', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 282 px and y position= 48 px.

37. Select the 'source' Movie Clip at frame 254 on layer named as 'Source', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 400 px and y position= 48 px.

38. Choose Window > Properties

39. In the Properties panel, set Color Style = Alpha and Alpha Amount = 0%.

40. Select frame 110 on layer named as 'Source', choose Window > Properties and in the Properties panel, set Tween = Motion and Ease = 100.

41. Select frame 245 on layer named as 'Source', choose Window > Properties and in the Properties panel, set Tween = Motion and Ease = 100.

42. Select frame 250 on layer named as 'Source', choose Window > Properties and in the Properties panel, set Tween = Motion and Ease = 100.

43. Insert blank keyframe (choose Insert > Blank Keyframe) at frame 255 on layer named as 'Source'

To animate the word 'Flash (.fla)' which is a part of Punch Line 2, follow the steps given below.

1. Insert a new layer (Choose Insert > Layer) above the layer named as 'Source 2'

2. Rename the layer as 'Flash'

3. Insert a Blank Keyframe (Choose Insert > Blank Keyframe) at frame 90 of the layer named as 'Flash'

4. At frame 90 of layer named as 'Flash', type the following text 'Flash (.fla)' with the Text Tool and in the Properties panel apply the following text settings : Text Type = Static Text, Font = Arial, Font Size = 16, Text (fill) Color = #FFFFFF, Text Style = Bold and Text Align = Align Left.

5. Select the text 'Flash (.fla)' with the Arrow tool, convert it into a Movie Clip (choose Insert> Convert to Symbol) with the center Registration point selected and name it as 'flash'

6. Choose Window > Info

7. In the Info panel, keeping top-left Registration point selected, set x position = 392 px and y position= 25 px.

8. Insert keyframe (choose Insert > Keyframe) at frame 96, frame 136, frame 143 and frame 148 on layer named as 'Flash'

9. Select the 'flash' Movie Clip at frame 96 on layer named as 'Flash', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 242 px and y position= 25 px.

10. Select the 'flash' Movie Clip at frame 136 on layer named as 'Flash', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 230 px and y position= 25 px.

11. Select the 'flash' Movie Clip at frame 143 on layer named as 'Flash', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 242 px and y position= 25 px.

12. Select the 'flash' Movie Clip at frame 148 on layer named as 'Flash', choose Window > Info and in the Info panel, keeping top-left Registration point selected, set x position = 150 px and y position= 25 px.

13. Select all the frames form 90 to 143 of layer named as 'Flash', choose Window > Properties and in the Properties panel, set Tween = Motion and Ease = 100.

14. Select the 'flash' Movie Clip at frame 90 on layer named as 'Flash', choose Window > Properties and in the Properties panel, set Color Style = Alpha and Alpha Amount = 0%.

15. Select the 'flash' Movie Clip at frame 148 on layer named as 'Flash', choose Window > Properties and in the Properties panel, set Color Style = Alpha and Alpha Amount = 0%.

16. Select the 'flash' Movie Clip at frame 96 on layer named as 'Flash' and choose Edit > Copy

17. Hide the layer named as 'Flash' as shown in the image given below,

18. Insert a new layer (Choose Insert > Layer) above the layer named as 'Source 2'

19. Rename the layer as 'Flash 1'

20. Insert a Blank Keyframe (Choose Insert > Blank Keyframe) at frame 95 of the layer named as 'Flash 1 '

21. Select frame 95 on layer named as 'Flash 1' and choose Edit > Paste in Place

22. Insert a Keyframe (Choose Insert > Keyframe) at frame 102 of the layer named as 'Flash 1 '

23. Select the 'flash' Movie Clip at frame 102 on layer named as 'Flash' and choose Window > Transform In the Transform panel keep Constrain = on, set Width = 130% and Height = 130%.

24. Choose Window > Properties and in the Properties panel, set Color Style = Alpha and Alpha Amount = 0%.

25. Insert a Blank Keyframe (Choose Insert > Blank Keyframe) at frame 103 of the layer named as 'Flash 1 '

26. Select the 'flash' Movie Clip at frame 95 on layer named as 'Flash 1'

27. Choose Window > Properties and in the Properties panel, set Color Style = Alpha and Alpha Amount = 50%.

28. Select frame 100 on layer named as 'Flash 1', choose Window > Properties and in the Properties panel, set Tween = Motion and Ease = 100.

29. Select all the frames form 95 to 103 of layer named as 'Flash 1' and choose Edit > Copy Frames

30. Insert a new layer (Choose Insert > Layer) above the layer named as 'Source 2'

31. Rename the layer as 'Flash 2'

32. Select frames 96 and choose Edit > Paste Frames

33. Insert a Blank Keyframe (Choose Insert > Blank Keyframe) at frame 149 of the layer named as 'Flash'