Use the table below and the financial statements of Apple 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.

3. Identify Apple?s total accrued expenses in 2016.

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2016 2015 2014 $ illions $1,456 $733 $384 Interest expense........