Chrome File Edit View History Bookmarks Profiles b Window Help MO 45% Thu Apr 7 21:06 Q IE ... G how to screenshot on mac x SF McGraw Hill Connect X Question 5 - Chapter 13 Qu X Course Hero * *[Solved] Yoric Company lis x + F- CD ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com. Watch Snatched (... " LindseyJones Uni. DRS British Council IEL... S www.choosemypl... & New Tab Chapter 13 Quiz Saved Help Save & Exit Submit A comparative balance sheet and an income statement for Burgess Company are given below: 5 Burgess Company Comparative Balance Sheet (dollars in millions) Ending Beginning Balance Balance Assets 3.57 Current assets: Cash and cash equivalents $ 58 $ 119 points Accounts receivable 830 759 Inventory 745 686 Total current assets 1, 633 1, 564 Property, plant, and equipment 1, 695 1, 655 Less accumulated depreciation 884 708 Net property, plant, and equipment 311 947 Total assets $ 2, 444 $ 2,511 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 298 $ 179 Accrued liabilities 199 151 Income taxes payable 115 91 Total current liabilities 512 121 Bonds payable 510 790 Total liabilities 1, 122 1, 211 Stockholders' equity: Common stock 240 240 Retained earnings 1, 082 1, 060 Total stockholders' equity 1, 322 1, 300 Total liabilities and stockholders' equity $ 2, 444 $ 2,511 Burgess Company Income Statement Idollars in millianal Mc Graw Chrome File Edit View History Bookmarks Profiles b Window Help MO 45% Thu Apr 7 21:07 Q DE ... G how to screenshot on mac x SF McGraw Hill Connect X Question 5 - Chapter 13 Qu X Course Hero * *[Solved] Yoric Company lis x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com. Watch Snatched (... " LindseyJones Uni.. ORS British Council IEL... S www.choosemypl... New Tab Chapter 13 Quiz i Saved Help Save & Exit Submit Burgess Company Income Statement 5 (dollars in millions) Sales $ 4,270 Cost of goods sold 2,920 Gross margin 1, 350 Selling and administrative expenses 918 Net operating income 432 3.57 Nonoperating items: points Gain on sale of equipment 2 Income before taxes 134 Income taxes 150 Net income $ 284 Burgess also provided the following information: 1. The company sold equipment that had an original cost of $50 million and accumulated depreciation of $26 million. The cash proceeds from the sale were $26 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.) Burgess Company Statement of Cash Flows Mc Graw Chrome File Edit View History Bookmarks Profiles b Window Help MO 45% Thu Apr 7 21:07 Q DE ... G how to screenshot on mac x SF McGraw Hill Connect X Question 5 - Chapter 13 Qu X Course Hero * *[Solved] Yoric Company lis x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com. Watch Snatched (... " LindseyJones Uni. ORS British Council IEL... S www.choosemypl... & New Tab Chapter 13 Quiz i Saved Help Save & Exit Submit Burgess Company 5 Statement of Cash Flows Operating activities 3.57 points Investing activities: Financing activities: Mc Graw