6 points 11 Skipped Lake Incorporated and River Incorporated reported net incomes of $800,000 and $1,000,000, respectively, for the most recent fiscal year. Both companies had 200,000 shares of common stock issued and outstanding. The market price per share of Lake's stock was $50, while River's sold for $85 per share. Required a. Determine the P/E ratio for each company. b. Based on the P/E ratios computed in Requirement a, which company do investors belleve has the greater potential for growth in income? Book Complete this question by entering your answers in the tabs below. Hint Print Required A Required B Determine the P/E ratio for each company. Note: Round your P/E ratio to nearest whole number. Company References Lake, Incorporated River, Incorporated P/E Ratio Required A Required B > Check my work