Q-4 (20 points) Definition of Valuation Ratios. In early 2018, Abercrombie & Fitch (ANF) and Gap (GPS) had the following financial information (in $ million): ANF GPS Market capitalization 1,538 12,347 Debt 250 1,249 Cash 676 1,783 Revenue 3,493 15,855 Net Income 11 848 If you only have access to the above information: (a) To assess the market value of the firm's underlying business, which valuation ratio is calculated based on the firm's market capitalization? Calculate that valuation ratio for Abercrombie & Fitch (ANF) and Gap (GPS). (b) To assess the market value of the firm's underlying business, which valuation ratio is calcu- lated based on the firm's enterprise value? Calculate that valuation ratio for Abercrombie & Fitch (ANF) and Gap (GPS). (c) Briefly explain the rationale behind the difference in denominators between the two valu- ation ratios you used in (a) and (b)