Epic Company earned net income of $908,500 this year. There were 450,000 weighted-average common shares outstanding, and preferred shareholders received a $31,000 cash dividend. Compute Epic Company's basic earnings per share. Choose Numerator: 11 Basic Earnings Per Share 1 Choose Denominator: Basic EPS Basic EPS per share

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Lake Incorporated and River Incorporated reported net incomes of $275,000 and $231,000, respectively, for the most recent fiscal year. Both companies had 55,000 shares of common stock issued and outstanding. The market price per share of Lake's stock was $58, while River's sold for $62 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. 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 P/E Ratio

Murray Company reports net income of $855,500 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 290,000 shares. Compute its basic earnings per share. Choose Numerator: 1 Basic Earnings Per Share Choose Denominator: Basic EPS Basic EPS 0 per share