Refer to the following financial statements for Crosby Corporation:

CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2
Sales		$	2,550,000
Cost of goods sold			1,504,500
Gross profit		$	1,045,500
Selling and administrative expense			510,000
Depreciation expense			178,500
Operating income		$	357,000
Interest expense			102,000
Earnings before taxes		$	255,000
Taxes			91,800
Earnings after taxes		$	163,200
Preferred stock dividends			12,750
Earnings available to common stockholders		$	150,450
Shares outstanding			120,000
Earnings per share		$	1.25

Statement of Retained Earnings For the Year Ended December 31, 20X2
Retained earnings, balance, January 1, 20X2	$	586,500
Add: Earnings available to common stockholders, 20X2		150,450
Deduct: Cash dividends declared and paid in 20X2		56,100
Retained earnings, balance, December 31, 20X2	$	680,850

Comparative Balance Sheets For 20X1 and 20X2
	Year-End 20X1				Year-End 20X2
Assets
Current assets:
Cash		$	81,600			$	114,750
Accounts receivable (net)			344,250				382,500
Inventory			459,000				471,750
Prepaid expenses			56,100				35,700
Total current assets		$	940,950			$	1,004,700
Investments (long-term securities)			89,250				76,500
Gross plant and equipment	$ 2,295,000				$ 2,779,500
Less: Accumulated depreciation	1,147,500				1,326,000
Net plant and equipment			1,147,500				1,453,500
Total assets		$	2,177,700			$	2,534,700
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable		$	293,250			$	510,000
Notes payable			459,000				459,000
Accrued expenses			76,500				58,650
Total current liabilities		$	828,750			$	1,027,650
Long-term liabilities:
Bonds payable, 20X2			81,600				127,500
Total liabilities		$	910,350			$	1,155,150
Stockholders equity:
Preferred stock, $100 par value		$	97,000			$	97,000
Common stock, $1 par value			127,000				127,000
Capital paid in excess of par			417,000				417,000
Retained earnings			626,350				680,850
Total stockholders equity		$	1,267,350			$	1,321,850
Total liabilities and stockholders equity		$	2,177,700			$	2,477,000

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 2.4 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.)

This is ALL the information provided to form an answer with.

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 Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Book value 20X1 20X2 P/E ratio times 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 Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Book value 20X1 20X2 P/E ratio times