Lake Incorporated and River Incorporated reported net incomes of $294,000 and $234,000, respectively, for the most recent fiscal year. Both companies had 60,000 shares of common stock issued and outstanding. The market price per share of Lake's stock was $64, while River's sold for $68 per share Required o. Determine the P/E ratio for each company. b. Based on the P/E ratios computed in Requirement a, which company do investors believe has the greater potential for growith in income? Complete this question by entering your answers in the tabs below. Determine the P/E ratio for each company. Note: Do not round intermediate calculations. found your answess to the nearest whole number. Lake Incorporated and River Incorporated reported net incomes of $294.000 and $234.000, respectively, for the most recent ilscat year. Both companies had 60,000 shares of common stock issued and outstanding. The market price per share of take's stock was $64, while River's sold for $68 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 believe has the greater potential for growth in income? Complete this question by entering your answers in the tabs below. Based on the P/E ratios computed in Requirement a, which company do investors believe has the greater potental for arowth in income