Mr. Thomas has asked you to advise him of the long-term debt position of the Celtics Corporation. He provides you with the ratios indicated below. 2004 2005 2006 Fixed Charge Coverage 6.3 4.5 5.0 Times Interest Earned 8.2 6.0 5.3 Debt Ratio 40% 39% 40% Debt to Tangible Net Worth 80% 81% 84% Required: Give the implications and limitations of each item separately and then the collective inference one may draw about The Celtics Corp's long-term, debt-paying ability.. 2. JBJ Antiques (JBJ) reported the following comparative income figures in 2006. (in thousands) 2006 2005 Net sales $701 $646 Other income 10 8 $711 $654 Costs and expenses: Cost of goods sold $472 $408 Selling and general expenses 176 156