Salsedo Corporation's balance sheet and income statement appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$31 $33 Accounts receivable 24 30 Inventory 53 47 Property, plant, and equipment 461 390 Less accumulated depreciation 306 256 Total assets$263 $244 Liabilities and stockholders' equity: Accounts payable$42 $49 Accrued liabilities 16 17 Income taxes payable 39 40 Bonds payable 75 90 Common stock 53 50 Retained earnings 38 (2)Total liabilities and stockholders' equity$263 $244 Income Statement?Sales$634Cost of goods sold400Gross margin234Selling and administrative expense174Net operating income60Gain on sale of equipment10Income before taxes70Income
taxes21Net income$49Cash dividends were $9. The company sold equipment for $15 that was originally purchased for $10 and that had accumulated depreciation of $5. It did not issue any bonds payable or repurchase any of its own common stock.The net cash provided by (used in) investing activities for the year was:
A. $66
B. $(66)
C. $15
D. $(81)
Answer: B
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