Apple Inc. Appendix A Financial Statement Information Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EOUITY Apple Inc. see accompanyng Ivotes to Consolatea rinancia statements. See accompanying Notes to Consolidated Financial Statements. Is Apple in a good or bad position to pay interest obligations? Assume an industry average of 10 . Use the table below and Apple's financial statements in Appendix A to answer the following. 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. Complete this question by entering your answers in the tabs below. Compute times interest earned for each of the three years shown. Note: Round your answers to 2 decimal places. Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years ended Cash and cash equivalents, beginning of the year Operating activities: Net income \begin{tabular}{l} September 29, 2018 \\ $20,289 \\ \hline \end{tabular} 59,531 September 30, 2017 $20,484 September 24, 2016 $21,120 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense (benefit) Other 10,903 48,351 45,687 Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables 5,340 Other current and non-current assets (32,590) (444) 10,157 10,505 Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities (5,322) 4,840 4,210 4,938 5,966 486 (166) 486 See accompanying Notes to Consolidated Financial Statements