Business Analysis Williams Company is a manufacturer of auto parts having the following financial statements for 2018–2019. Required Calculate and interpret the financial ratios (see Exhibit 20.9) for...

Business Analysis Williams Company is a manufacturer of auto parts having the following financial statements for 2018–2019.

Required Calculate and interpret the financial ratios (see Exhibit 20.9) for Williams for both years. Because 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 for simplicity that the balances in these accounts in 2018 are the same as those in 2017