Business Analysis Williams Company is a manufacturer of auto parts having the follow...

Business Analysis Williams Company is a manufacturer of auto parts having the following financial statements for 2012–2013.

Required Calculate and interpret the financial ratios (per Exhibit 20.9 ) for Williams for 2012 and 2013. Since the calculation of many ratios requires the average balance in an account (e.g., average receivables is required in calculating receivables turnover), you may assume that the balances in these accounts in 2012 are the same as those in 2011.

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