The comparative balance sheets for 2021 and 2020 and the income statement for 2021 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also. ARDUOUS COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) 2021 2020 Assets Cash Accounts receivable $ 120 +4 $ 83 192 198 Land Investment revenue receivable Inventory Prepaid insurance Long-term investment Buildings and equipment Less: Accumulated depreciation 10 6 209 202 8 12 164 127 200 152 421 404 (100) (124) Patent 34 38 $1,258 $1,098 Liabilities Accounts payable Salaries payable $ 52 $ 69 10 13 Interest payable (bonds) 12 6 Income tax payable Deferred tax liability Notes payable 14 18 15 10 24 0 Lease liability 84 0 Bonds payable 217 279 Less: Discount on bonds (24) (26) Shareholders' Equity Common stock 436 412 Paid-in capital-excess of par 99 87 Preferred stock 77 0 Retained earnings 253 230 Less: Treasury stock (11) 0 $1,258 $1,098 ARDUOUS COMPANY Income Statement For Year Ended December 31, 2021 ($ in millions) Revenues and gain: Sales revenue Investment revenue Gain on sale of treasury bills Expenses and loss: Cost of goods sold Salaries expense Depreciation expense Amortization expense Insurance expense Interest expense Loss on sale of equipment Income tax expense Net income $ 425 16 4 $ 445 373 $ 72