Refer to the following financial statements for Crosby Corporation:

CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2
Sales		$	3,900,000
Cost of goods sold			2,470,000
Gross profit		$	1,430,000
Selling and administrative expense			618,000
Depreciation expense			290,000
Operating income		$	522,000
Interest expense			87,100
Earnings before taxes		$	434,900
Taxes			127,000
Earnings after taxes		$	307,900
Preferred stock dividends			10,000
Earnings available to common stockholders		$	297,900
Shares outstanding			150,000
Earnings per share		$	1.99

Statement of Retained Earnings For the Year Ended December 31, 20X2
Retained earnings, balance, January 1, 20X2	$	1,079,600
Add: Earnings available to common stockholders, 20X2		297,900
Deduct: Cash dividends declared and paid in 20X2		170,000
Retained earnings, balance, December 31, 20X2	$	1,207,500

Comparative Balance Sheets For 20X1 and 20X2
	Year-End 20X1				Year-End 20X2
Assets
Current assets:
Cash		$	102,000			$	48,500
Accounts receivable (net)			507,000				600,000
Inventory			698,000				754,000
Prepaid expenses			60,300				37,900
Total current assets		$	1,367,300			$	1,440,400
Investments (long-term securities)			97,000				88,100
Gross plant and equipment	$ 2,630,000				$ 3,280,000
Less: Accumulated depreciation	1,370,000				1,660,000
Net plant and equipment			1,260,000				1,620,000
Total assets		$	2,724,300			$	3,148,500
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable		$	321,000			$	583,000
Notes payable			553,000				553,000
Accrued expenses			75,700				53,000
Total current liabilities		$	949,700			$	1,189,000
Long-term liabilities:
Bonds payable, 20X2			105,000				162,000
Total liabilities		$	1,054,700			$	1,351,000
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			1,079,600				1,207,500
Total stockholders equity		$	1,669,600			$	1,797,500
Total liabilities and stockholders equity		$	2,724,300			$	3,148,500

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 3.3 times book value for 20X1, what is the firms P/E ratio for 20X2 vs. 20X1? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)