A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet (dollars in millions) Ending Beginning 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 liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Burgess Company Income Statement (dollars in millions) Sales $ 4,360 Cost of goods sold 2,980 Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income Burgess also provided the following information: 1,380 924 456 2 458 156 $ 302 Balance Balance $ 61 860 $ 125 786 760 698 1,681 1,609 1,725 1,682 902 717 823 965 $ 2,504 $2,574 $ 304 $ 182 202 148 121 94 627 424 525 820 1,152 1,244 255 255 1,097 1,075 1,352 1,330 $ 2,504 $ 2,574 Burgess also provided the following information: 1. The company sold equipment that had an original cost of $56 million and accumulated depreciation of $29 million. The cash proceeds from the sale were $29 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: 1. 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.) deduction in cash and cash outflows as negative amounts.) Burgess Company Operating activities: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents Statement of Cash Flows