Lake Incorporated and the River, Incorporated reported net Incomes of $164,000 and $124,000, respectlvely, for the most recent fisca lear. Both companles had 40,000 shares of common stock Issued and outstanding. The market price per share of Lake's stock was 557 , while River's sold for $61 per share. Required Determine the P/E ratio for each company. o. Based on the P/E ratios computed In Requlrement a, which company do investors belleve has the greater potentlal for growth in ncome? Complete this question by entering your answers in the tabs below. Determine the P/E ratio for each company. (Do not round intermediate calculations. Round your answers to the nearest whole number.) The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $450 per share. To reduce the market price of the common stock, Yeates declared a 3 -for-1 stock split for the 390,000 outstanding shares of Its 510 par value common stock. Required o. Determine the number of common shares outstandling and the par value after the split. (Round par value answer to 2 decimal places.)