Lake Incorporated and River Incorporated reported net incomes of $348,000 and $288,000, 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 $63, while River's sold for $67 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Determine the P/E ratio for each company. Note: Do not round intermediate calculations: Round your answers to the nearest whole number Company Lake, Incorporated River, Incorporated PIE Ratio