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

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Accounting

A comparative balance sheet and an income statement for Burgess Company are given below:
Burgess also provided the following information:
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 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 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.)
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