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Problem 12-12A Prepare a Statement of Cash Flows [LO12-1, LO12-2] A comparative balance sheet and an income statement for Burgess Company are given below: Burgess

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Problem 12-12A Prepare a Statement of Cash Flows [LO12-1, LO12-2] 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 Assets Current assets: Cash and cash equivalents Accounts receivable Inventory $ 68 139 849 795 726 930 Total current assets Property, plant, and equipment Net property,plant, and equipment Total assets 1,793 1,714 1,795 1,745 944 738 Less accumulated depreciation 851 1,007 $ 2,644 S 2,721 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 318 $ 189 141 135 101 209 Total current liabilities Bonds payable 662 560 431 890 Total liabilities 1,222 1,321

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