Comparative balance sheets for 2021 and 2020, a statement of income for 2021, and additional information from the accounting records of Red, Inc., are provided below. RED, INC. Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Assets Cash Accounts receivable Prepaid insurance Inventory Buildings and equipment Less: Accumulated depreciation Liabilities Accounts payable Accrued liabilities Notes payable Bonds payable Common stock Shareholders' Equity Retained earnings RED, INC. Statement of Income For Year Ended December 31, 2021 Revenues ($ in millions) 2021 2020 $ 44 198 $ 152 152 12 5 325 195 440 370 (139) (260) $ 880 $ 614 $ 107 11 $ 140 16 70 181 420 91 420 38 $ 880 $ 614 Sales revenue $2,200 Expenses Cost of goods sold Depreciation expense $1,482 50 Operating expenses 545 2,077 Net income $ 123 Additional information from the accounting records: