Autry Corporation's balance sheet and income statement appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$33 $26 Accounts receivable 67 68 Inventory 54 65 Total current assets 154 159 Property, plant, and equipment 673 520 Less accumulated depreciation 315 293 Net property, plant, and equipment 358 227 Total assets$512 $386 Liabilities and stockholders' equity: Current liabilities: Accounts payable$35 $34 Accrued liabilities 19 18 Income taxes payable 29 29 Total current liabilities 83 81 Bonds payable 36 50 Total liabilities 119 131 Stockholders' equity: Common stock 33 30 Retained

Question

earnings 360  225 Total stockholders' equity 393  255 Total liabilities and stockholders' equity$512 $386???Income Statement?Sales$1,206Cost of goods sold795Gross margin411Selling and administrative expense178Net operating income233Gain on sale of plant and equipment17Income before taxes250Income taxes75Net income$175Cash dividends were $40. The company sold equipment for $19 that was originally purchased for $6 and that had accumulated depreciation of $4. The net cash provided by (used in) investing activities for the year was: 

A. $19
B. ($140)
C. $140
D. ($159)

Answer 1

Answer: B