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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 additionat information from the accounting records of Red, Incorporated, are provided below: Additional information from the accounting records' a. During 2024,$246.0 million of equipment was purchased to replace $180.0 million of equipment (95.0\% depreciated) sold at book value. Additional information from the accounting recordis: a. During 2024,$246.0 million of equipment was purchased to replace $180.0 million of equipment ( 95.0% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $100.0 million, it was necessary for Red to borrow $100.0 million from its bank. Required: Prepare the T-account for Red, Incorporated. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5 ). 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 additionat information from the accounting records of Red, Incorporated, are provided below: Additional information from the accounting records' a. During 2024,$246.0 million of equipment was purchased to replace $180.0 million of equipment (95.0\% depreciated) sold at book value. Additional information from the accounting recordis: a. During 2024,$246.0 million of equipment was purchased to replace $180.0 million of equipment ( 95.0% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $100.0 million, it was necessary for Red to borrow $100.0 million from its bank. Required: Prepare the T-account for Red, Incorporated. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5 )