Text Arc In Flash

I thought creating a text arc in flash would have been very simple, however, as most of you probably know, it is quite hard. At least for a “newbie”.

I am trying to create a text arc, not only that, but have the letters rotate in a wave-like fashion. I doubt a newbie like myself to triumph over the obstacles Flash 8 can throw.

So, could any of you experts be so kind as to help guide me to the starting line of my stressful journey?