MARTIN S. FRIDSON is Chief Investment Officer at Lehmann Livian Fridson Advisors, a New York-based investment management firm founded on fundamental security analysis. He is past President of the Fixed Income Analysts Society.
FERNANDO ALVAREZ has been a faculty member at Babson College, Rutgers University School of Business, NYU-Stern, and Columbia Business School. His research interests include the interaction of strategy, financial statement analysis, valuation models, and stock market reactions to business decisions.

Preface to Fifth Edition Workbook
Acknowledgments
Part One Questions
Fill in the Blanks on Each Chapter
Financial Statement Exercises
Financial Statement Items
Common Size and Operating Strategy
Cash Flows and Life Cycle
DuPont Analysis
Computational Exercises
Arithmetic of Growth Valuations
Market Value versus Book Value of Debt
Acquisitions Driven by Sales Growth Acceleration without Profit Increase
Stock Prices and Goodwill
Projecting Interest Expense
Sensitivity Analysis in Forecasting Financial Statements
Part Two Answers
Fill in the Blanks on Each Chapter (Answers)
Financial Statement Exercises (Answers)
Financial Statement Items
Common Size and Operating Strategy
Cash Flows and Life Cycle
DuPont Analysis
Computational Exercises (Answers)
Arithmetic of Growth Valuations
Market Value versus Book Value of Debt
Acquisitions Driven by Sales Growth Acceleration without Profit Increase
Stock Prices and Goodwill
Projecting Interest Expense
Sensitivity Analysis in Forecasting Financial Statements