Flash - Water drop effect

1. Create a file with the parameters shown in Figure 1

Flash - Water drop effect Picture 1
Figure 1

2. Using the Oval Tool, remove the border color, select the gray fill color, draw an oval near the top edge of the canvas, then use the Selection Tool to adjust it to look like a drop:

Flash - Water drop effect Picture 2
Figure 2

3. Right-click Frame 15 and select Insert KeyFrame

Flash - Water drop effect Picture 3
Figure 3

4. Use the down arrow on the keyboard to drop the water:

Flash - Water drop effect Picture 4
Figure 4

5. At the new location of the water drop, right-click it and select Free Transform

Flash - Water drop effect Picture 5
Figure 5

6. Use the mouse to adjust the drop of water:

Flash - Water drop effect Picture 6
Figure 6

7. Lock the existing layer and create a new layer:

Flash - Water drop effect Picture 7
Figure 7

8. Right-click Frame 15 of the new layer and select Insert KeyFrame:

Flash - Water drop effect Picture 8
Figure 8

9. Also at Frame 15, select the Oval Tool, remove the fill color, set the fill color to gray and draw an oval:

Flash - Water drop effect Picture 9
Figure 9

10. Right-click Frame 25 and select Insert KeyFrame:

Flash - Water drop effect Picture 10
Figure 10

11. Select Edit> Copy, then Edit> Paste in Place to create a new oval right at the old oval position:

Flash - Water drop effect Picture 11
Figure 11

12. Right-click on the new oval and select Free Transform:

Flash - Water drop effect Picture 12
Figure 12

13. Press the Alt, Shift keys and use the mouse to adjust the big old oval a little bit:

Flash - Water drop effect Picture 13
Figure 13

14. Do the same Step 10 13 to get new ovals at Frame 35, 45:

Flash - Water drop effect Picture 14
Figure 14

15. Lock this layer, unlock the layer below, left-click and any place between Frame 1 and Frame 15, in the Tween section of the Properties panel, select Shape:

Flash - Water drop effect Picture 15
Figure 15

16. Do the same Step 15 for the upper layer:

Flash - Water drop effect Picture 16
Figure 16

17. Press Ctrl + Enter to check the results, download the original file here.