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: Additional information from the accounting rocords: Additional information from the accounting records: a. During 2024,$315 milion of equipment was purchosed to replace $180 million of equipment ( 80% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $32 million, it was necessary for Red to borrow $32 million from its bank