Let $S$ be a graded ring. I was wondering if someone could please explain me how I can interpret structure sheaf of $Proj \ S$ in terms of compatible stalks? Thank you!
Edit: This is Exercise 4.5.M. on Ravi Vakil's notes on Algebraic Geometry. I have been trying to work it out for a while with some of the comments I received. I still could not figure it out and I would appreciate an explanation/answer. Thank you!