In early 2018, Abercrombie & Fitch (ANF) had a book equity of $1250 million, a price per share of $22.48, and 68.4 million shares outstanding. At the same time, The Gap (GPS) had a book equity of $3140 million, a share price of $31.74, and 389 million shares outstanding. a. What is the market-to-book ratio of each of these clothing retailers? b. What conclusions can you draw by comparing the two ratios?