How do I calculate times interest earned here:
Apple Inc.
Consolidated Statement of Operations
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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