Refer to the following financial statements for Crosby Corporation:

CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2
Sales		$	3,650,000
Cost of goods sold			2,330,000
Gross profit		$	1,320,000
Selling and administrative expense			664,000
Depreciation expense			291,000
Operating income		$	365,000
Interest expense			82,900
Earnings before taxes		$	282,100
Taxes			141,000
Earnings after taxes		$	141,100
Preferred stock dividends			10,000
Earnings available to common stockholders		$	131,100
Shares outstanding			150,000
Earnings per share		$	0.87

Statement of Retained Earnings For the Year Ended December 31, 20X2
Retained earnings, balance, January 1, 20X2	$	119,900
Add: Earnings available to common stockholders, 20X2		131,100
Deduct: Cash dividends declared and paid in 20X2		197,000
Retained earnings, balance, December 31, 20X2	$	54,000

Comparative Balance Sheets For 20X1 and 20X2
	Year-End 20X1				Year-End 20X2
Assets
Current assets:
Cash		$	144,000			$	118,500
Accounts receivable (net)			505,000				524,000
Inventory			624,000				670,000
Prepaid expenses			62,700				32,400
Total current assets		$	1,335,700			$	1,344,900
Investments (long-term securities)			97,500				87,800
Gross plant and equipment	$ 2,320,000				$ 2,870,000
Less: Accumulated depreciation	1,920,000				2,211,000
Net plant and equipment			400,000				659,000
Total assets		$	1,833,200			$	2,091,700
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable		$	323,000			$	641,000
Notes payable			534,000				534,000
Accrued expenses			77,300				52,700
Total current liabilities		$	934,300			$	1,227,700
Long-term liabilities:
Bonds payable, 20X2			189,000				220,000
Total liabilities		$	1,123,300			$	1,447,700
Stockholders equity:
Preferred stock, $100 par value		$	90,000			$	90,000
Common stock, $1 par value			150,000				150,000
Capital paid in excess of par			350,000				350,000
Retained earnings			119,900				54,000
Total stockholders equity		$	709,900			$	644,000
Total liabilities and stockholders equity		$	1,833,200			$	2,091,700

a. Prepare a statement of cash flows for the Crosby Corporation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) b. Compute the book value per common share for both 20X1 and 20X2 for the Crosby Corporation. (Round your answers to 2 decimals places.) c. If the market value of a share of common stock is 2.7 times book value for 20X2, what is the firms P/E ratio for 20X2? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)