Required information [The following information applies to the questions displayed below.) 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 $ 44.1 $164.6 Accounts receivable Prepaid insurance. 143.0 5.4 94.0 2.4 Inventory 298.0 172.0 Buildings and equipment 436.0 370.0 Less: Accumulated depreciation (144.0) (259.0) $ 782.5 $ 544.0 Liabilities Accounts payable $ 95.0 $ 106.5 Accrued liabilities. Notes payable 8.5 100.0 15.5 0.0 Bonds payable 130.0 0.0 Shareholders' Equity Common stock 400.0 Retained earnings 49.0 400.0 22.0 $ 782.5 $ 544.0 RED, INC. Statement of Income For Year Ended December 31, 2021 it in millinnel