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In: AccountingA comparative balance sheet and an income statement for BurgessCompany are given below:Burgess Company...A comparative balance sheet and an income statement for BurgessCompany are given below:Burgess CompanyComparative Balance Sheet(dollars in millions)Ending BalanceBeginning BalanceAssetsCurrentassets:Cash and cashequivalents$68$139Accountsreceivable930849Inventory795726Total currentassets1,7931,714Property, plant,and equipment1,7951,745Less accumulateddepreciation944738Netproperty,plant, and equipment8511,007Totalassets$2,644$2,721Liabilities and Stockholders' EquityCurrentliabilities:Accountspayable$318$189Accruedliabilities209141Income taxespayable135101Total currentliabilities662431Bondspayable560890Totalliabilities1,2221,321Stockholders'equity:Commonstock290290Retainedearnings1,1321,110Totalstockholders' equity1,4221,400Totalliabilities and stockholders' equity$2,644$2,721Burgess CompanyIncome Statement(dollars in millions)Sales$4,570Cost of goodssold3,120Grossmargin1,450Selling andadministrative expenses938Net operatingincome512Nonoperatingitems:Gain on sale ofequipment2Income beforetaxes514Incometaxes170Net income$344Burgess also provided the following information:The company sold equipment that had an original cost of $70million and accumulated depreciation of $36 million. The cashproceeds from the sale were $36 million. The gain on the sale was$2 million.The company did not issue any new bonds during the year.The company paid a cash dividend during the year.The company did not complete any common stock transactionsduring the year.Required:Using the indirect method, prepare a statement of cash flows forthe year. (Enter your answers in millions not in dollars.List any deduction in cash and cash outflows as negativeamounts.)