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please help Problem 13-12 (Algo) Prepare a Statement of Cash Flows [LO13-1, LO13-2] A comparative balance sheet and an income statement for Burgess Company are
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Problem 13-12 (Algo) Prepare a Statement of Cash Flows [LO13-1, LO13-2] A comparative balance sheet and an income statement for Burgess Company are given below: Burgess also provided the following information: 1. The company sold equipment that had an original cost of $54 million and accumulated depreciation of $28 million. The cash proceeds from the sale were $28 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: 1. 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.) Step by Step Solution
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