following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 Sales Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share $ 3,570,000 2,200,000 1,370,000 687,000 309,000 374,000 80, 200 293,800 170,000 123,800 10,000 113,800 150,000 9.76 Statement of Retained Earnings For the Year Ended December 31, 20x2 Retained earnings, balance, January 1, 20x2 Add: Earnings available to common stockholders, 20x2 Deduct: Cash dividends declared and paid in 20X2 Retained earnings, balance, December 31, 20X2 316.000 113,800 199,900 $ 230,800 Assets Current assets: Cash Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments (long-term securities) Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued expenses Total current liabilities Long-term liabilities Bonds payable, 20x2 Total liabilities Stockholders' equity Preferred stock, $300 par value Common stock, 51 par value Capital paid in excess of par Retained earnings Total stockholders? equity Comparative Balance Sheets For 20x1 and 20x2 Year-End 28x1 52,120,000 1,520,000 $ 127,000 $25,000 601,000 Year-End 20x2 $ 102,200 591,000 654,000 61,200 $1,314,200 92,900 600,000 $2,007,100 $ 2,550,000 1,829,000 31,200 $1,378,400 88,600 721,000 $2,188,000 $ 300,000 534,000 75,100 $ 909,100 192,000 $1,101,100 $ 576,000 534,000 55.200 $1,165,200 202,000 $1,167,200 $ 90,000 $ 90,000 150,000 150,000 350,000 350,000 316,000 230,000 $ 906,000 $2,007,100 $420,800 Total liabilities and stockholders equity a. Prepare a statement of cash flows for the Crosby Corporation (Amounts to be deducted should be indicated with parentheses or a minus sign.) a. Prepare a statement of cash flows for the Crosby Corporation: (Amounts to be deducted should be indicated with parentheses on a minus sign.) CROSBY CORPORATION Statement of Cash Flows For the Year Ended December 31, 20X2 Cash flows from operating activities Adjustments to determine cashflow from operating activities Total adjustments $ Net cash flows from operating activities $ o Cash flows from investing activities Net cash flows from investing activities Cash flows from finanong activities Net cash flows from finanong activities $ b. Compute the book value per common share for both 20X1 and 20x2 for the Crosby Corporation (Round your answers to 2 decimals places.) 20X1 2002 Book value c. If the market value of a share of common stock is 1.4 times book value for 20x2, what is the firm's P/E ratio for 20x2? (Do not round Intermediate calculations. Round your final answer to 2 decimal places) Erase