Obtain Apple's 2016 10-K (filed October 26, 2016) either through the "Investor Relations" portion of its website (do a web search for "Apple Investor Relations") or go to www.sec.gov and click "Company Filings Search" under "Filings."

Calculate Apple's debt to equity, long-term debt to equity, and times interest earned (accrual basis) for 2015 and 2016. The industry averages for these ratios for 2016 were 52.42%, 36.41%, and 13.83, respectively. You will need to read the "Other Income and Expense" section of the Management, Discussion & Analysis section to find the amount of interest expense. Round your answers to two decimal places.

Comment on Apple's mix of debt and equity and long-term solvency. Apple is above the industry averages for all three ratios. There is of long-term solvency issues.