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

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Accounting

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A comparative balance sheet and an income statement for Burgess Company are given belol Burgess also provided the following information: 1. The company sold equipment that had an original cost of $70 million and accumulated depreciation of $36 million. The cash proceeds from the sale were $36 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: 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.) Burgess Company Statement of Cash Flows Operating activities: Investing activities

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