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Comparative balance sheets for 2021 and 2020, a statement of income for 2021 , and additional information from the accounting records of Red, Inc, are
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. Additionat information from the occounting recorde Additional information from the accounting records: a. During 2021,$212 million of equipment was purchased to replace $180 milion of equipment ( 90% depreciated) sold at bbs k value. b. In order to maintain the usual policy of paying cash dividends of $43 million, it was necessary for Red to borrow $43 million from its bank Required: Prepare the statement of cash flows for Red, Inc, using the indirect method to report operating activities. (Amounts to be deducted should be indicoted with o minus sign. Enter your answers in millions (.e., 10,000,000 should be entered os 10).) inouia de inaicatea with a munus sign. tnter your answers in minons (1.e., 7u, UuU,UUU snouia de enterea as tu).)
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