Williams Company is a manufacturer of auto parts having the following financial statements for 2021-2022. Cash Accounts receivable Inventory Total current assets Long-lived assets Total assets Current liabilities Long-term debt Shareholders' equity Total debt and equity Balance Sheet December 31 2022 $ 274, eee 164,80 399, eee $ 837,000 1,780, eee $ 2,617,080 368, eee 900,000 1, 349, eee $ 2,617, eee 2021 $ 149,000 239,000 189,00 $ 577,000 1,640,000 $ 2,217,000 315, eee 940, see 962,000 $ 2,217,000 Sales Cost of sales Gross margin Operating expenses Operating income Taxes Net income Income Statement For the years ended December 31 2022 $ 3,640,eee 2,780,eee 860,00 514, eee 346, eee 121,100 $ 224,900 2021 $ 3,740, eee 2,880, eee 860, see 296, eee 564, eee 197,400 $366,600 Cash Flow from Operations 2021 $ 366,600 120, eee Net income Plus depreciation expense + Decrease (-increase) in accounts receivable and inventory + Increase (decrease) in current liabilities Cash flow from operations 2022 $ 224,900 130,eee (135,880) 53,000 $ 272,900 $ 486,600 *Operating expenses include depreciation expense. Additional financial Information, including Industry averages for 2022, where appropriate, Includes: Additional financial Information, Including Industry averages for 2022, where appropriate, Includes: 2022 $ 170, eee 35% $ 130,000 $ 36,000 $ 3.65 1,940, eee Capital expenditures Income tax rate Depreciation expense Dividends Year-end stock price Number of outstanding shares Sales multiplier Free cash flow multiplier Earnings multiplier Cost of capital Accounts receivable turnover Inventory turnover Current ratio Quick ratio Cash flow from operations ratio Free cash flow ratio Gross margin percentage Return on assets (net book value) Return on equity 5% 2021 Industry 2022 $ 240, 280 35% 35.6% $ 120,000 $ 36, eee 25.ee 1,940, eee 1.5e 18.00 9.ee 5% 11.10 10.50 2.30 1.98 1.20 1.1e 30.0% 20.8% 30.ex Required: Develop a business valuation for Williams Company for 2022 using the following methods: (1) book value of equity, (2) market value of equity, (3) discounted cash flow (DCF), (4) enterprise value, and (5) all the multiples-based valuations for which there is an Industry average multiplier. For the calculation of the DCF valuation, you may use the simplifying assumption that free cash flows will continue Indefinitely at the amount in 2022. Book value of equity Market value of equity Discounted free cash flows Enterprise value Multiples-based valuation Earnings multiple Free cash flow multiple Sales multiple