Question
Use the table below and Apple's financial statements in Appendix A to answer the following. $ millions 2017 2016 2015 Interest expense $ 2,323 $
Use the table below and Apple's financial statements in Appendix A to answer the following.
| $ millions | 2017 | 2016 | 2015 | ||||||
| Interest expense | $ | 2,323 | $ | 1,456 | $ | 733 | |||
Required: 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. 3. Identify Apple's total accrued expenses in 2017.
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
11th Edition
0321357965, 978-0321357960
