7 2000 hits RED. DIC. Comparative Balance Sheet December 31, 2021 and 2020 $ in illo) 2001 Assets Cash Accounts receivable 198 Prepaid insurance 12 Inventory 325 Buildings and equipment 440 Less Accumulated depreciation (139) $ 880 Lisbilities Accounts payable $ 107 Accrued liabilities 11 Notes parable 70 Bands payable 181 Shaceholders' Equity Cormon stock 420 Retained eaming 91 $ 880 $152 152 5 195 370 (260) $ 614 eBook $ 140 16 0 0 Hint Print 420 38 $ 614 References FED.INC Statement of Incom For Year Ended December 31, 2021 $2.200 Rever Sales revenue Expended Cort of goods sold Depreciation expense Operating expenses Net income 31.402 50 546 2,071 Additional information from the accounting records a. During 2021, $250 million of equipment was purchased to replace $180 million of equipment (95% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of S70 million, it was necessary for Red to borrow $70 million from its bank Prepare the statement of cash flows of Red, Inc., using the direct method to report operating activities (Enter your answers in millions (ie., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)