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How would I calculate the interest coverage ratio (net income basis) from this income statement? Interest expense is negative. begin{tabular}{|lrrr} hline multicolumn{4}{c}{ CONSOLIDATED STATEMENTS OF
How would I calculate the interest coverage ratio (net income basis) from this income statement? Interest expense is negative.
\begin{tabular}{|lrrr} \hline \multicolumn{4}{c}{ CONSOLIDATED STATEMENTS OF EARNINGS - USD (\$) \$ in Millions } \\ \hline & \multicolumn{3}{c}{12 Months Ended } \\ & Jun. 30,2022 & Jun. 30, 2021 & Jun. 30,2020 \\ Net Sales & $80,187 & $76,118 & $70,950 \\ Cost of Goods and Services Sold & 42,157 & 37,108 & 35,250 \\ Selling, General and Administrative Expense & 20,217 & 21,024 & 19,994 \\ Operating Income & 17,813 & 17,986 & 15,706 \\ Interest Expense & (439) & (502) & (465) \\ Investment Income, Interest & 51 & 45 & 155 \\ Other Nonoperating Income (Expense) & 570 & 86 & 438 \\ Earnings from Continuing Operations Before Income Taxes & 17,995 & 17,615 & 15,834 \\ Income Taxes on Continuing Operations & 3,202 & 3,263 & 2,731 \\ Net Earnings & 14,793 & 14,352 & 13,103 \\ Net Earnings Attributable to Noncontrolling Interest & 51 & 46 & 76 \\ Net Income (Loss) Attributable to Parent & $14,742 & $14,306 & $13,027 \\ BASIC NET EARNINGS PER COMMON SHARE & & & \\ Earnings Per Share, Basic & $6 & $5.69 & $5.13 \\ DILUTED NET EARNINGS PER COMMON SHARE & & & \\ Earnings Per Share, Diluted & $5.81 & $5.50 & $4.96 \\ \hline \end{tabular}Step by Step Solution
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