Valuation Using Balance Sheet Multiples The following table provides summary data for Guess? Inc. and its competitors, Ralph Lauren Corp. and The Gap Inc. Guess - company assumed value : ? - equity assumed value : ? - net operating assets : $666 million - book value equity : $837 million - net non operating obligations (assets) : ($171) - common shares outstanding : 65.6 shares Ralph Lauren - company assumed value : $8,906 million - equity assumed value : $10,014 million - net operating assets : $2,179 million - book value equity : $3,287 million - net non operating obligations (assets) : ($1,108) million - common shares outstanding : 77.2 shares The Gap - company assumed value : $9,440 million - equity assumed value : $9,560 million - net operating assets : $3,433 million - book value equity : $3,553 million - net non operating obligations (assets) : ($120) million - common shares outstanding : 375.8 shares a. Compute the price to net operating assets ratio for both Ralph Lauren and Gap. b. Use Ralph Lauren and Gap as comparables, along with the price to NOA ratios from part a, and then estimate for Guess? its company intrinsic value, its equity intrinsic value, and its equity intrinsic value per share. c. Compute the PB ratio for both Ralph Lauren and Gap. d. Use Ralph Lauren and Gap as comparables, along with the PB ratios from part c, and then estimate for Guess? its equity intrinsic value and its equity intrinsic value per share.