The correct sentence is:
The President arose and spoke as follows: "We will be at the top this year..."
Explanation:
1. The sentence is correctly punctuated with a colon (:) after "as follows," introducing the direct speech that follows.
2. The direct speech is enclosed in quotation marks (" ") as per the standard rules of punctuation for dialogue.
3. The verb "arose" is used correctly to indicate the President's action of standing up before speaking.
4. The phrase "as follows" is used appropriately to introduce the words spoken by the President.
Overall, the third option is the correct sentence structure with proper punctuation and grammar for reporting direct speech.
