How do I calculate times interest earned here? Fiscal year ended (in millions) Sept. 24, 2016 Sept. 26, 2015 Net sales $ 215,639 $ 233,715 Cost of sales 131,376 140,089 Gross margin 84,263 93,626 Operating expenses Research and development 10,045 8,067 Selling, general and administrative 14,194 14,329 Total operating expenses 24,239 22,396 Operating income 60,024 71,230 Interest and dividend income 3,999 2,921 Interest expense (1,456) (733) Other expense, net (1,195) (903) Income before provision for income taxes 61,372 72,515 Provision for income taxes 15,685 19,121 Net income $ 45,687 $ 53,394
How do I calculate times interest earned here? Fiscal year ended (in millions) Sept. 24, 2016 Sept. 26, 2015 Net sales $ 215,639 $ 233,715 Cost of sales 131,376 140,089 Gross margin 84,263 93,626 Operating expenses Research and development 10,045 8,067 Selling, general and administrative 14,194 14,329 Total operating expenses 24,239 22,396 Operating income 60,024 71,230 Interest and dividend income 3,999 2,921 Interest expense (1,456) (733) Other expense, net (1,195) (903) Income before provision for income taxes 61,372 72,515 Provision for income taxes 15,685 19,121 Net income $ 45,687 $ 53,394
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
How do I calculate times interest earned here?
|
Fiscal year ended |
|
(in millions) |
Sept. 24, 2016 |
Sept. 26, 2015 |
Net sales |
$ 215,639 |
$ 233,715 |
Cost of sales |
131,376 |
140,089 |
Gross margin |
84,263 |
93,626 |
Operating expenses |
|
|
Research and development |
10,045 |
8,067 |
Selling, general and administrative |
14,194 |
14,329 |
Total operating expenses |
24,239 |
22,396 |
Operating income |
60,024 |
71,230 |
Interest and dividend income |
3,999 |
2,921 |
Interest expense |
(1,456) |
(733) |
Other expense, net |
(1,195) |
(903) |
Income before provision for income taxes |
61,372 |
72,515 |
Provision for income taxes |
15,685 |
19,121 |
Net income |
$ 45,687 |
$ 53,394 |
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