While it might sound like a trick question, "red ink" can refer to both:
* A red-colored ink: This is the literal meaning.
* Financial losses: This is a figurative meaning, often used in business contexts.
The homograph for "dog" is "dog". It's a bit of a wordplay answer, as "dog" can refer to:
* A domesticated canine: The literal meaning.
* Something that is undesirable or unsuccessful: This is a figurative meaning, often used in colloquial speech (e.g., "that movie was a dog").
Let me know if you'd like to try another homograph puzzle!