Exercise 11-19A (Algo) Using the P/E ratio LO 11-9 Lake incorporated and the River, Incorporated reported net incomes of $207,000 and $171,000, respectively, for the most recent fiscal year. Both companles had 45,000 shares of common stock issued and outstanding. The market price per share of take's stock was $68, while River's sold for $72 per share. Required a. Determine the P/E ratio for eoch company. b. Based on the P/E ratios computed in Requirement a, which company do investors believe has the greater potential for growh in income? Complete this question by entering your answers in the tabs below. Determine the P/E ratio for esch company. (Do not round intermediate calculations: Round your answers to the nearest whole number) Exercise 11-19A (Algo) Using the P/E ratio LO 11-9 Lake incorporated and the River, incorporated reported net incomes of $207,000 and $171,000, respectively, for the most recent fiscal yeac Both companies had 45,000 shares of common stock issued and outstanding. The market price per share of Lake's stock was \$68, while River's sold for $72 per share. Required a. Determine the PiE ratio for each campany b. Based on the P/E ratios computed in Aequirement a, which company do invostors believe has the greater potential for growth in income? Complete this question by entering your answers in the tabs below. Based on the Pit ratos computed in Rrquirement a. Which company do investars believe has the greater potemial for growth in income? Which company do itvevars belive fas the geaier potertin for growh in home