Please help with how to find depreciation
Chapter 13 Applicat X A comparative balance sheet an X C A Comparative Balance Sheet An X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fangelo.blackboard.com%252Fwebapps%252Fp apter 13 Applications i Saved 2 Total liabilities and stockholders equity $ 2 , 564 $ 2 , 631 Burgess Company Income Statement (dollars in millions) ints Sales $4, 450 Cost of goods sold 3, 040 Gross margin 1, 410 Selling and administrative expenses 930 eBook Net operating income 480 Nonoperating items: Print Gain on sale of equipment 2 eferences Income before taxes 482 Income taxes 162 Net income $ 320 Burgess also provided the following information: 1. The company sold equipment that had an original cost of $62 million and accumulated depreciation of $32 million. The cash proceeds from the sale were $32 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 here to search O C F1 F2 F3 F4 F5 F6 F7 F8 F10 F11 X KK DII % 2 5 6 8ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fangelo.blackboard.com%252Fwebapps%252Fpor hapter 13 Applications i Saved 2 A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet (dollars in millions) Ending Beginning Balance Balance nts Assets Current assets: Cash and cash equivalents 64 $ 131 eBook Accounts receivable 890 813 Inventory 775 710 Print Total current assets 1, 729 1, 654 Property, plant, and equipment , 755 1, 709 ferences Less accumulated depreciation 920 726 Net property, plant, and equipment 835 983 Total assets $ 2, 564 $ 2, 637 Liabilities and Stockholders Equity Current liabilities: Accounts payable 310 185 Accrued liabilities 205 145 Income taxes payable 127 97 Total current liabilities 642 427 Bonds payable 540 850 Total liabilities 1, 182 1, 277 Stockholders' equity: Common stock 270 270 Retained earnings 1, 112 1, 090 Total stockholders equity 1, 382 1, 360 Total liabilities and stockholders equity $ 2, 564 $ 2, 637 Burgess Company Income Statement (dollars in millions) Sales $ 4, 450 Cost of goods sold 3, 040 ere to search O E DELL F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 4X a # A K 1 2 4 5 O Q W E R T Y U O A S D F G H
