The following information has been reported by Laporte Inc. on its statements of financial position at December 31, 2019 and 2020 and on its statement of earnings for the year ended December 31, 2020. Amounts are in millions of dollars: Statements of Financial Position 2020 $ 104 41 35 217 (85) 312 $ $ Cash Accounts receivable Merchandise inventory Long-term investments Property, plant, and equipment Accumulated depreciation Total assets Accounts payable Income taxes payable Long-term borrowings Contributed capital Retained earnings Total liabilities and shareholders' equity Statement of Earnings Sales Cost of sales Gross profit Depreciation expense Other operating expenses Earnings from operations Gain on sale of investments Loss on sale of equipment Earnings before income tax Income tax expense Net earnings *** = 2 2019 $ 75 31 39 25 175 (103) $ 242 52 11 27 107 45 $ 242 31 10 87 129 55 312 $ 161 (91) 70 (17) (37.5) 15.5 13 (9) 19.5 7.8 $ 11.7 Additional information is as follows: a. Old equipment was sold for cash during 2020. It had an original cost of $47 and an accumulated depreciation of $35. b. A new building was acquired during the year in exchange for a long-term note for $60, payable in five years. In addition, new equipment was purchased for cash. The following information has been reported by Laporte Inc. on its statements of financial position at December 31, 2019 and 2020 and on its statement of earnings for the year ended December 31, 2020. Amounts are in millions of dollars: Statements of Financial Position 2020 $ 104 41 35 217 (85) 312 $ $ Cash Accounts receivable Merchandise inventory Long-term investments Property, plant, and equipment Accumulated depreciation Total assets Accounts payable Income taxes payable Long-term borrowings Contributed capital Retained earnings Total liabilities and shareholders' equity Statement of Earnings Sales Cost of sales Gross profit Depreciation expense Other operating expenses Earnings from operations Gain on sale of investments Loss on sale of equipment Earnings before income tax Income tax expense Net earnings *** = 2 2019 $ 75 31 39 25 175 (103) $ 242 52 11 27 107 45 $ 242 31 10 87 129 55 312 $ 161 (91) 70 (17) (37.5) 15.5 13 (9) 19.5 7.8 $ 11.7 Additional information is as follows: a. Old equipment was sold for cash during 2020. It had an original cost of $47 and an accumulated depreciation of $35. b. A new building was acquired during the year in exchange for a long-term note for $60, payable in five years. In addition, new equipment was purchased for cash