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help asap, tia! Burgess Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 45 700 680 1,425 1,565 806 759 $ 2,184
help asap, tia!
Burgess Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 45 700 680 1,425 1,565 806 759 $ 2,184 $ 93 642 634 1,369 1,538 669 869 $ 2,238 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 1labilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders equity $ 166 164 78 $ 272 186 89 547 445 992 408 660 1.068 175 1,017 1,192 $ 2,184 175 995 1,170 $ 2,238 Buritess Company Proy 1 of 1 Next 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 Net Income ***** 5.3,880 2,660 1,220 892 328 330 124 $ 206 Burgess also provided the following information: 1. The company sold equipment that had an original cost of $24 million and accumulated depreciation of $13 million. The cash proceeds from the sale were $13 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 cosh outflows as negative amounts.) Pry BIB NO Burgess Company Statement of Cash Flows Operating activities ok ences Investing activities Financing activities HE Noul Book Print Investing activities ferences Financing activities Beginning cash and cash equivalents Ending cash and cash equivalents Step by Step Solution
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