In this case, we review the debt of several specialty retail stores. The companies reviewed and the year-end dates are as follows:
1. Abercrombie & Fitch Co.
(January 31, 2009—52-week; February 2, 2008—52-week; February 3, 2007—53-week)
‘‘Abercrombie * Fitch Co. is a specialty retailer that operates stores and websites selling casual sportswear apparel.’’ 10-K
2. Limited Brands, Inc.
(January 31, 2009—52-week; February 2, 2008—52-week; February 3, 2007—53-week)
‘‘We operate in the highly competitive specialty retail business.’’ 10-K
3. Gap Inc.
(January 31, 2009—52-week; February 2, 2008—52-week; February 3, 2007—53-week)
‘‘We are a global specialty retailer offering clothing, accessories, and personal care products.’’ 10-K

Required
a. Comment on the relative times interest earned between the companies.
b. Comment on the relative fixed charge coverage for each company.
c. Comment on the relative times interest earned vs. the fixed charge coverage. Why is the times interest earned materially higher than the fixed charge coverage?
d. Why is the debt/equity materially more than the debt ratio?
e. Considering the debt ratio, comment on the relative debt position of these companies.
f. Why is the debt to tangible net worth usually higher than the debt/equity ratio?