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 2021 2020 $ 26 203 $ 114 134 11 6 289 177 384 352 (121) (242) $ 792 $ 541 $ 90 $ 104 10 15 43 0 161 0 402 402 86 20 $ 792 $ 541 RED, INC. Statement of Income For Year Ended December 31, 2021 Revenues ($ in millions) Sales revenue $2,010 Expenses Cost of goods sold Depreciation expense $1,439 41 Operating expenses Net income 421 1,901 $ 109 Additional information from the accounting records: