A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet (dollars in millions) 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. Ending Balance Beginning Balance $ 48 $ 99 730 669 695 646 1,473 1,414 1,595 1,565 824 678 771 887 $ 2,244 $ 2,301 $ 278 $ 169 189 161 95 81 562 411 460 690 1,022 1,101 < Prev 4 of 5 Next > 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 $ 3,970 Cost of goods sold 2,720 1,250 898 Gross margin Selling and administrative expenses "Net operating income "Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Not incom 352 2 354 130 $ 221 $ 278 $ 169 189 161 95 81 562 411 460 690 1,022 1,101 190 190 1,032 1,010 1,222 1,200 $ 2,244 $ 2,301 < Prev 4 of 5 Next > Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income urgess also provided the following information: 2 354 130 $ 224 1. The company sold equipment that had an original cost of $30 million and accumulated depreciation of $16 million. The cash proceeds from the sale were $16 million. The gain on the sale was $2 million. 2. The company did not issue any new bonds during the year. 8. The company paid a cash dividend during the year. The company did not complete any common stock transactions during the year. equired: Ising the indirect method, prepare a statement of cash flows for the year. (Enter your answers in millions not in dollars. List any eduction in cash and cash outflows as negative amounts.) Burgess Company Statement of Cash Flows Operating activities: Investing activities: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents