Required information [The following information applies to the questions displayed below.] 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 records: Additional information from the accounting records: a. During 2024 , $200.0 million of equipment was purchased to replace $160.0 million of equipment (95.0% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $30.0 million, it was necessary for Red to borrow $30.0 million from its bank. quired: epare the statement of cash flows (direct method) for Red, Incorporated. Use the T-account method to assist in your analysis. te: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 500,000 should be entered as 5.5). Required: Prepare the statement of cash flows (direct method) for Red, Incorporated. Use the T-account method to assist in your analysis. Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5 )