Burgess also provided the following information:

1.The company sold equipment that had an original cost of $16 million and accumulated depreciation of $9 million. The cash proceeds from the sale were $9 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.

Sides 5 3.33511] End If good: said ZED Grass margin 1.150 Selling and adminia'lraue axpanma 334 Net aparang inn-ulna 295 Hnnuperang items: Gain on BEIB Inf aquipmar 2 Inmma bafnm turns EBB Income taxaa 116 Net irmna 5 132 Burgess Gcmpeny Il'.':cn1piar'atilnna Balance Sheet [dcllars in nillicns} Ending Beg'nning Balance Balance Assets Currant assets: Cash and cash equiyalents 5 41 5 55 Acccunts receivable 555 555 lnyentcry 555 51-5 Tctal current assets 1.351 1.352 Prcperty. plant. and equipment 1.525 1.552 Less accumulated depraciaticn T52 55? Net prcp-erty.plant. and equipment T43 1345 Tm'mit s 2.15:: at 2.154 Liabilities and Btcclthclders' Equity Current liabilities: Acccunts payable 5- 254 $ 152 Accmed liabilities 152 155 Incarna taxes payable 51 T4 Tctal current liabilities 52?r 454 Ben ds payable 42 5 525 Tctal liabilities 552 1.524 5tccld1cld ers' equity: Ccmmcn stack 155 155 Retained eaminps 55-? WE Tctal stcclchclclers' equity 1.152 1.135 Tctal liabilities and stcclthclclers' equity 5 2.154 $ 2.154 Burgess Company Statement of Cash Flows - Indirect Method Operating activities: Adjustments to convert net income to cash basis: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents