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

Burgess Company Comparative Balance Sheet (dollars in millions)
	Ending Balance	Beginning Balance
Assets
Current assets:
Cash and cash equivalents	$ 43	$ 89
Accounts receivable	680	624
Inventory	670	626
Total current assets	1,393	1,339
Property, plant, and equipment	1,545	1,520
Less accumulated depreciation	794	663
Net property,plant, and equipment	751	857
Total assets	$ 2,144	$ 2,196
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 268	$ 164
Accrued liabilities	184	166
Income taxes payable	85	76
Total current liabilities	537	406
Bonds payable	435	640
Total liabilities	972	1,046
Stockholders' equity:
Common stock	165	165
Retained earnings	1,007	985
Total stockholders' equity	1,172	1,150
Total liabilities and stockholders' equity	$ 2,144	$ 2,196

Burgess Company Income Statement (dollars in millions)
Sales	$ 3,820
Cost of goods sold	2,620
Gross margin	1,200
Selling and administrative expenses	888
Net operating income	312
Nonoperating items:
Gain on sale of equipment	2
Income before taxes	314
Income taxes	120
Net income	$ 194

Burgess also provided the following information:

The company sold equipment that had an original cost of $20 million and accumulated depreciation of $11 million. The cash proceeds from the sale were $11 million. The gain on the sale was $2 million.

The company did not issue any new bonds during the year.

The company paid a cash dividend during the year.

The company did not complete any common stock transactions during the year.

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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 Balance	Beginning Balance
Assets
Current assets:
Cash and cash equivalents	$ 43	$ 89
Accounts receivable	680	624
Inventory	670	626
Total current assets	1,393	1,339
Property, plant, and equipment	1,545	1,520
Less accumulated depreciation	794	663
Net property,plant, and equipment	751	857
Total assets	$ 2,144	$ 2,196
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 268	$ 164
Accrued liabilities	184	166
Income taxes payable	85	76
Total current liabilities	537	406
Bonds payable	435	640
Total liabilities	972	1,046
Stockholders' equity:
Common stock	165	165
Retained earnings	1,007	985
Total stockholders' equity	1,172	1,150
Total liabilities and stockholders' equity	$ 2,144	$ 2,196

Burgess Company Income Statement (dollars in millions)
Sales	$ 3,820
Cost of goods sold	2,620
Gross margin	1,200
Selling and administrative expenses	888
Net operating income	312
Nonoperating items:
Gain on sale of equipment	2
Income before taxes	314
Income taxes	120
Net income	$ 194

Burgess also provided the following information:

The company sold equipment that had an original cost of $20 million and accumulated depreciation of $11 million. The cash proceeds from the sale were $11 million. The gain on the sale was $2 million.

The company did not issue any new bonds during the year.

The company paid a cash dividend during the year.

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.