Kakashi reminisces about his days in the Academy
It simply draws upon the events of the Shinobi Academy before he was a Genin
Inside, there's a test going on and Kakashi is in it [can't translate the rest properly, sorry]
After that, Kakashi as a Jounin gives a present to Rin as a proposal, after the day Obito died, then it goes back to the present day.
Kakashi and Gai are speechless, Naruto [does something, I'm not entirely sure]
The last words are Kakashi's.
Oh, and EoJ, way to be so late to the party. Please delete repeated spoilers.