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)
	2021				2020
Assets
Cash	$	36.0			$	135.0
Accounts receivable		162.0				122.0
Prepaid insurance		14.0				7.0
Inventory		272.0				164.0
Buildings and equipment		368.0				320.0
Less: Accumulated depreciation		(72.0	)			(224.0	)
	$	780.0			$	524.0
Liabilities
Accounts payable	$	82.0			$	96.0
Accrued liabilities		8.0				15.0
Notes payable		50.0				0.0
Bonds payable		175.0				0.0
Shareholders Equity
Common stock		400.0				400.0
Retained earnings		65.0				13.0
	$	780.0			$	524.0

RED, INC. Statement of Income For Year Ended December 31, 2021
($ in millions)
Revenues
Sales revenue				$	1,880.0
Expenses
Cost of goods sold	$	1,316.0
Depreciation expense		38.0
Operating expenses		424.0			1,778.0
Net income				$	102.0

Additional information from the accounting records:

1. During 2021, $248.0 million of equipment was purchased to replace $200.0 million of equipment (95.0% depreciated) sold at book value.
2. In order to maintain the usual policy of paying cash dividends of $50.0 million, it was necessary for Red to borrow $50.0 million from its bank.

Required: Prepare the T-account for Red, Inc. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)