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 Company Comparative Balance Sheet Asset Current asseta Cash and cash equivalents Accounts receivable Inventory Total currant ats Property, plant, and equipment Les accumulated depreciation Net property.plast, and equipant Total Liabilities and Stockholders Equity Current Liabiliti Accounts payable Accrued liabilition Income taxes payable Total current Bonds payable Total liabiliti Stockholders equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' pity Darges Company dollars in L $4,510 Cs of goods sold 3,000 Gross margin 3,430 Selling and adinistrative ap 336 Net operating ince 436 Sonoperating 2 In before 246 212 Ending Beginning Salomon Balance 866 $335 920 785 718 3,761 1,604 1,735 1,737 532 732 843 235 5 2,606 $2,679 3 314 5 187 207 147 231 " 452 429 550 870 1,299 200 200 1,132 1,100 1,300 $2,604 $2,479 Burgess siso provided the following information 1. The company sold equipment that had an original cost of $66 million and accumulated depreciation of $34 million. The cash proceeds from the sale were $34 milion. The gain on the sale was $2 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 Required: sactions during the year 1. Using the indirect method, prepare a statement of cash flows for the year (inter your answers in millions not in dollars. List any deduction in cash and cash outflows as negative amounts) Operating acctvites Burgess Comuary Sam of Cal Flows