Refer to the following financial statements for Crosby Corporation:

CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2
Sales		$	3,880,000
Cost of goods sold			2,620,000
Gross profit		$	1,260,000
Selling and administrative expense			656,000
Depreciation expense			300,000
Operating income		$	304,000
Interest expense			87,900
Earnings before taxes		$	216,100
Taxes			155,000
Earnings after taxes		$	61,100
Preferred stock dividends			10,000
Earnings available to common stockholders		$	51,100
Shares outstanding			150,000
Earnings per share		$	.34

Statement of Retained Earnings For the Year Ended December 31, 20X2
Retained earnings, balance, January 1, 20X2	$	855,400
Add: Earnings available to common stockholders, 20X2		51,100
Deduct: Cash dividends declared and paid in 20X2		153,000
Retained earnings, balance, December 31, 20X2	$	753,500

Comparative Balance Sheets For 20X1 and 20X2
	Year-End 20X1				Year-End 20X2
Assets
Current assets:
Cash			$	134,000			$	66,500
Accounts receivable (net)				526,000				531,000
Inventory				649,000				719,000
Prepaid expenses				66,800				39,100
Total current assets			$	1,375,800			$	1,355,600
Investments (long-term securities)				99,500				82,900
Gross plant and equipment	$	2,520,000			$	3,000,000
Less: Accumulated depreciation		1,450,000				1,750,000
Net plant and equipment				1,070,000				1,250,000
Total assets			$	2,545,300			$	2,688,500
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable			$	315,000			$	558,000
Notes payable				510,000				510,000
Accrued expenses				76,900				58,000
Total current liabilities			$	901,900			$	1,126,000
Long-term liabilities:
Bonds payable, 20X2				198,000				219,000
Total liabilities			$	1,099,900			$	1,345,000
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				855,400				753,500
Total stockholders equity			$	1,445,400			$	1,343,500
Total liabilities and stockholders equity			$	2,545,300			$	2,688,500

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 3.6 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.)