A comparative balance sheet and an income statement for Burgess Company are given below:

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Burgess also provided the following information:

1. The company sold equipment that had an original cost of $28 million and accumulated depreciation of $15 million. The cash proceeds from the sale were $15 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.)

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[see image "3" for choices provided for each blank in the table]

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A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet {dollars in millions} Ending Beginning Balance Balance Assets Current assets: Cash and cash equivalents 5 4? 5 9? Accounts receivable ?2B 66% Inventory 696 642 Total current assets 1,45? 1,399 Property, plant, and equipment 1,585 1,555 Less accumulated depreciation 318 6?5 Net property,plantJ and equipment ?6? 881 Total assets 5 2,224 5 2,286 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 5 2?6 5 168 Accrued liabilities 188 162 Income taxes payable B3 83 Total current liabilities 55? 416 Bonds payable 455 686 Total liabilities 1,612 1,696 Stockholders' equity: Common stock 185 185 Retained earnings 1,62? 1,635 Total stockholders' equity 1,212 1,196 Total liabilities and stockholders' equity 5 25224 5 23239 I Burgess Company Income Statement (dollars in millions) Sales $ 3,940 Cost of goods sold 2,?@@ Gross margin 1,243 Selling and administrative expenses 395 Net operating income 344 Nonoperating items: Gain on sale of equipment 2 Income before taxes 345 Income taxes 128 Net income 5 218 Burgess also provided the following information: 1. The company sold equipment that had an original cost of $28 million and accumulated depreciation of $15 million. The cash proceeds from the sale were $15 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 ows for the year. {Enter your answers in millions not in dollars. List any deduction in cash and cash outflows as negative amounts} Operating activities: __ Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents