Refer to the following financial statements for Crosby Corporation:

CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2
Sales		$	4,190,000
Cost of goods sold			2,820,000
Gross profit		$	1,370,000
Selling and administrative expense			685,000
Depreciation expense			319,000
Operating income		$	366,000
Interest expense			89,300
Earnings before taxes		$	276,700
Taxes			227,000
Earnings after taxes		$	49,700
Preferred stock dividends			10,000
Earnings available to common stockholders		$	39,700
Shares outstanding			150,000
Earnings per share		$	0.26

Statement of Retained Earnings For the Year Ended December 31, 20X2
Retained earnings, balance, January 1, 20X2	$	45,900
Add: Earnings available to common stockholders, 20X2		39,700
Deduct: Cash dividends declared and paid in 20X2		25,000
Retained earnings, balance, December 31, 20X2	$	60,600

Comparative Balance Sheets For 20X1 and 20X2
	Year-End 20X1				Year-End 20X2
Assets
Current assets:
Cash		$	173,000			$	60,000
Accounts receivable (net)			549,000				573,000
Inventory			645,000				686,000
Prepaid expenses			61,600				37,800
Total current assets		$	1,428,600			$	1,356,800
Investments (long-term securities)			90,100				84,700
Gross plant and equipment	$ 2,240,000				$ 2,930,000
Less: Accumulated depreciation	1,990,000				2,309,000
Net plant and equipment			250,000				621,000
Total assets		$	1,768,700			$	2,062,500
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable		$	307,000			$	555,000
Notes payable			558,000				558,000
Accrued expenses			72,800				50,900
Total current liabilities		$	937,800			$	1,163,900
Long-term liabilities:
Bonds payable, 20X2			195,000				248,000
Total liabilities		$	1,132,800			$	1,411,900
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			45,900				60,600
Total stockholders equity		$	635,900			$	650,600
Total liabilities and stockholders equity		$	1,768,700			$	2,062,500

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 3.2 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.)

a. Prepare a statement of cash flows for the Crosby Corporation: (Amounts to be deduct 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 Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities