refer to the following financial statements for Crosby Corporation:

CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2
Sales		$	3,940,000
Cost of goods sold			2,580,000
Gross profit		$	1,360,000
Selling and administrative expense			697,000
Depreciation expense			272,000
Operating income		$	391,000
Interest expense			88,000
Earnings before taxes		$	303,000
Taxes			234,000
Earnings after taxes		$	69,000
Preferred stock dividends			10,000
Earnings available to common stockholders		$	59,000
Shares outstanding			150,000
Earnings per share		$	0.39

Statement of Retained Earnings For the Year Ended December 31, 20X2
Retained earnings, balance, January 1, 20X2	$	342,700
Add: Earnings available to common stockholders, 20X2		59,000
Deduct: Cash dividends declared and paid in 20X2		218,000
Retained earnings, balance, December 31, 20X2	$	183,700

Comparative Balance Sheets For 20X1 and 20X2
	Year-End 20X1				Year-End 20X2
Assets
Current assets:
Cash		$	171,000			$	127,000
Accounts receivable (net)			543,000				546,000
Inventory			656,000				697,000
Prepaid expenses			63,500				39,700
Total current assets		$	1,433,500			$	1,409,700
Investments (long-term securities)			92,000				81,100
Gross plant and equipment	$ 2,250,000				$ 2,730,000
Less: Accumulated depreciation	1,750,000				2,022,000
Net plant and equipment			500,000				708,000
Total assets		$	2,025,500			$	2,198,800
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable		$	365,000			$	626,000
Notes payable			514,000				514,000
Accrued expenses			79,800				57,100
Total current liabilities		$	958,800			$	1,197,100
Long-term liabilities:
Bonds payable, 20X2			134,000				228,000
Total liabilities		$	1,092,800			$	1,425,100
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			342,700				183,700
Total stockholders equity		$	932,700			$	773,700
Total liabilities and stockholders equity		$	2,025,500			$	2,198,800

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 3.2 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.)