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Step 1

Start by creating a new image 300 X 300 with a white background.

Layers > New Raster Layer... > Ok

On the Materials palette, click on the Foreground color and select the Gradient tab. Click on the image to open the available gradients. Select Duotone red and use the following settings:

On the Tools toolbar, select the Selection (S) and on the Tool Options palette, select the Rounded Rectangle

Create a rounded rectangular selection in the center of your canvas:

Use the Flood Fill Tool (F) and fill the selection:

Don't de-select just yet!

Step 2

Layers > New Raster Layer... > Ok

Selections > Modify > Contract... > Number of pixels: 10 > Okay.

On the Materials palette, click on the Foreground color (the Gradient tab should still be selected). Remove the checkmark from the Invert box:

Use the Flood Fill Tool (F) and fill the selection:

Selections > Modify > Contract... > Number of pixels: 10 > Okay.

Layers > Merge > Merge Down

Now, hit Delete on your keyboard. Your image should now look similar to this:

Selections > Select None