Durycoo Cupurty Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 99 669 $ 48 730 695 1,473 1,595 - 824 771 $2,244 1,414 1,565 678 887 $ 2,301 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: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 278 189 95 562 460 1,022 $ 169 161 81 411 690 1,101 190 1,032 1,222 $2,244 190 1,010 1,200 $ 2,301 Burgess Company Income Statement (dollars in millions) Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items : Gain on sale of equipment Income before taxes Income taxes $3,970 2,720 1,250 898 352 2 354 130 224 Net income $ Burgess also provided the following information: 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. 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.) Burgess Company Statement of Cash Flows Operating activities: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents