4 4 points A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet (dollars in millions) Book Print Assets Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property.plant, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued liabilities Income taxes payable Total current isabilities Bonds payable Total liabilities Stockholders' equity: Connon stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity ending Balance Beginning Balance $ 50 750 $103 687 705 654 1,105 1,444 1,815 838 684 779 899 $ 2,284 $ 2,343 $282 191 $171 159 99 83 572 413 470 710 1,042 1,123 200 200 1,042 1,020 3,242 $ 2,284 1,220 $2,343 Burgess Company Income Statement (dollars in millions) Sales Cost of goods sold $ 4,030 2,760 1,270 902 368 Gross margin Selling and administrative expenses net operating Incon nonoperating Stans: Gain on sale of equipment Incone before taxes Income taxes Net incone Burgess also provided the following Information: 370 134 $230 1. The company sold equipment that had an original cost of $34 million and accumulated depreciation of $18 million. The cash proceeds from the sale were $18 million. The gain on the sale was $2 million. 2. The company did not issue any new bonds during the year. 3. The company paid a cash dividend during the year. 4. The company did not complete any common stock transactions during the year. Required: Using the Indirect method, prepare a statement of cash flows for the year. (Enter your answers in millions not in dollars. List any deduction in cash and cash outflows as negative amounts.) Burgess Company Statement of Cash Flows Operating activities: 0 Investing activities: Financing activities: Beginning cash and cash equivalents Endling cash and cash equivalents 0 0