This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began in Chapter 1. The components of the Burburr serial case can be completed in any order. Burburr Resorts & Hotels Corporation is a fictitious corporation.

Following are the consolidated statements of cash flows for Burburr Resorts & Hotels Corporation for the years ended December 31, 2021 through 2023.

Requirements1. Looking at the statements of cash flows above, which activity has generated the most cash for Burburr?2. Now switch to thinking about Burburr’s renovation of its hotel tower in the Las Vegas Burburr. How would the renovation expenditures be reported in the statement of cash flows?3. After completion, how should the interest, on the renovation cost, be reported on the statement of cash flows?

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Burburr Resorts & Hotels Corporation Consolidated Statements of Cash Flows (condensed) in millions Cash flows from operating activities Net loss Adjustments to reconcile cash flows Cash flows from operating activities Cash flows from investing activities Acquisitions of businesses, property and equipment Other investing activities Cash flows from investing activities Cash flows from financing activities Proceeds from issuance of long-term debt Repayments of long-term debt Other financing activities Cash flows from financing activities Net cash flows from operating, investing, and financing Other adjustments to cash Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Years Ended December 31, 2023 2021 $ 304 482 786 (2,143) 8 (2,135) 1,167 (1,130) 260 297 (1,052) (1,052) 2,709 $1,657 2022 $ (375) (1,948) (2,323) (37) (18) (55) $ (3,078) 3,120 42 (1,949) 4,658 $ 2,709 (220) 99 (121) 7,550 120 (7,846) (268) 725 (1,112) 429 (1,260) (1,949) (1,339) 4,583 3,244 1,414 $ 4,658