Yoric Company listed the net changes in its balance sheet accounts for the past year as follows:

	Debits > Credits by:		Credits > Debits by:
Cash	$	159,700
Accounts receivable		170,900
Inventory			$	63,000
Prepaid expenses		4,400
Long-term loans to subsidiaries				83,000
Long-term investments		90,000
Plant and equipment		246,000
Accumulated depreciation				65,100
Accounts payable				48,500
Accrued liabilities		5,700
Income taxes payable				9,200
Bonds payable				207,000
Common stock				125,000
Retained earnings				75,900
	$	676,700	$	676,700

The following additional information is available about last years activities:

a.	Net income for the year was $ ? .
b.	The company sold equipment during the year for $35,800. The equipment originally cost $160,400 and it had $126,000 in accumulated depreciation at the time of sale.
c.	Cash dividends of $10,300 were declared and paid during the year.
d.	The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below:

	Beginning	Ending
Plant and equipment	$ 2,947,000	$ 3,193,000
Accumulated depreciation	$ 978,600	$ 1,043,700

e.	The balance in the Cash account at the beginning of the year was $109,100; the balance at the end of the year was $ ? .
f.	If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change.

Required:

Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)

A comparative balance sheet and an income statement for Burgess Company are given below:

Burgess Company Comparative Balance Sheet (dollars in millions)
	Ending Balance		Beginning Balance
Assets
Current assets:
Cash and cash equivalents	$	53	$	109
Accounts receivable		780		714
Inventory		720		666
Total current assets		1,553		1,489
Property, plant, and equipment		1,645		1,610
Less accumulated depreciation		854		693
Net property,plant, and equipment		791		917
Total assets	$	2,344	$	2,406
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	288	$	174
Accrued liabilities		194		156
Income taxes payable		105		86
Total current liabilities		587		416
Bonds payable		485		740
Total liabilities		1,072		1,156
Stockholders' equity:
Common stock		215		215
Retained earnings		1,057		1,035
Total stockholders' equity		1,272		1,250
Total liabilities and stockholders' equity	$	2,344	$	2,406

Burgess Company Income Statement (dollars in millions)
Sales	$	4,120
Cost of goods sold		2,820
Gross margin		1,300
Selling and administrative expenses		908
Net operating income		392
Nonoperating items: Gain on sale of equipment		2
Income before taxes		394
Income taxes		140
Net income	$	254

Burgess also provided the following information:

1.	The company sold equipment that had an original cost of $40 million and accumulated depreciation of $21 million. The cash proceeds from the sale were $21 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.)