27. Prepare a statement of cash flows for the Crosby Corporation. Follow the general procedures indicated in Table 2-10 on page 38.

(The following questions apply to the Crosby Coiporation, as presented in problem 27.)

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Sales.... CROSBY CORPORATION Income Statement For the Year Ended December 31, 2008 Cost of goods sold Gross profits Selling and administrative expense. Depreciation expense. Operating income Interest expense. Earnings before taxes Taxes.... $2,200,000 1,300,000 900,000 420,000 150,000 330,000 90,000 240,000 80,000