Burgess also provided the following information: 1. The company sold equipment for $22 miltion that...
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Burgess also provided the following information: 1. The company sold equipment for $22 miltion that originally cost $42 million with accumulated depreciation of $22 million. The gain on the sale was $2 million. 2. The company did not issue any new bonds, pay a dividend, or complete any common stock transactions during the year: Required: 1. Using the indirect method, prepare a statement of cash flows. Note: Enter your onswers in millions not in dollars. List any deduction in cosh and cash outflows as negative amounts. Problem 15-19 (Algo) Prepare a Statement of Cash Flows [LO15-1, LO15-2, LO15-3, LO15-4, LO15-5] A comparative balance sheet and an income statement for Burgess Company are given below
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