AA 11-1 Company Analysis LO A1, P4
Use the table below and Apple's financial statements in Appendix A to answer the following.
$ millions
Interest expense
2019
$ 3,576
1. Compute times interest earned for each of the three years shown.
2. Is Apple in a good or bad position to pay interest obligations? Assume an industry average of 10.
Required 1 Required 2
2018
2017
$ 3,240 $ 2,323
Complete this question by entering your answers in the tabs below.
Times interest earned ratio
Compute times interest earned for each of the three years shown. (Round your answers to 2 decimal places.)
2019
2018
II
Required 1
2017
Required 2