Comparative balance sheets for 2024 and 2023, a statement of income for 2024, and additional information from the accounting records of Red, Incorporated, are provided below: Assets Cash RED, INCORPORATED Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) Accounts receivable 2024 2023 $ 42 $ 138 194 150 Prepaid insurance. Inventory 14 8 300 193 Buildings and equipment Less: Accumulated depreciation Liabilities 436 368 (137) (258) $849. $ 599 Accounts payable $105 $136 Accrued liabilities: 13 21 Notes payable 68 0 Bonds payable 144 0 Shareholders' Equity Common stock 418 418 Retained earnings 101 24 $849 $599