Alas, my task is near completion. I shall not shed tears, because I'll do anything for m'lady Miranda.
Oh Ferdinand! Allow me to assist you in carrying the logs!
Nonsense Miranda! I could never see you undergo such dishonor.
In previous scenes of The Tempest, Caliban is very resentful of his work for Prospero. This is because he fears Prospero's magic. In comparison, Ferdinand does his work very willingly because he is able to see Miranda.
O Ferdinand, so noble and so handsome, could I ever love another man as much as you?
Fair maiden Miranda, you are the most beautiful woman I've ever laid eyes on. I could never love another as much as you.
Ferdinand is working for Prospero. His job is to carry logs, which is seen as near slave work. Caliban also did similar work before leaving Prospero.
What a pleasant meeting between two people truly in love.
Miranda feels sorry for Ferdinand because she sees him as the most handsome man she had every laid eyes on. She thinks her father is being to hard on Ferdinand, so she offers to help with his work.
Ferdinand is a worthy husband of my daughter Miranda. Yes yes, this works out wonderfully.
Miranda and Ferdinand confess their love for one another.
Propero hears this and is delighted, as he now sees that Ferdinand is truly a worthy husband for Miranda. He was only testing Ferdinand's loyalty for his daughter through his labor.
Prospero returns to his cell glad that the couple fell truly in love with one another. This contributes to future scenes in which Prospero's plan further unfolds.