The time has returned to the opening scene, with Fanny in her dressing room, remembering her past. It's the day Nick gets out of prison after eighteen months. Fanny tells Ziegfeld she's ready to give up performing if Nick asks her. Nick arrives and tells her he thinks they should split up. Fanny is rocked but pretends this is what she feels also. Nick leaves, and Fanny prepares to face the future without him: I'll march my band out, I'll beat my drum, Guess we didn't make it, At least I didn't fake it. Don't tell me not to live, Just sit and putter, Life's candy
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