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Burgess also provided the following information: 1. The company sold equipment for $37 million that originally cost $72 million with accumulated depreciation of $37 million.
Burgess also provided the following information: 1. The company sold equipment for $37 million that originally cost $72 million with accumulated depreciation of $37 million. The gain on the sale was $2 million. 2. The company did not issue any new bonds, pay a dividend, or complete any common stock transactions during the year. Required: 1. Using the indirect method, prepare a statement of cash flows. Note: Enter your answers in millions not in dollars. List any deduction in cash and cash outflows as negative amounts
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