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 Shareholders' Equity Common stock Retained earnings 2021 2020 $43 196 $138 151 9 4 302 194 438 369 (138) (259) $ 850 $ 597 $106 $138 8 15 69 154 0 419 419 94 25 $ 850 $ 597 RED, INC. Statement of Income For Year Ended December 31, 2021 Revenues (5 in millions) Sales revenue Expenses Cost of goods sold Depreciation expense Operating expenses Net income $2,190 $1,471 41 540 2,052 $ 138