Autry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet...

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Accounting

Autry Corporation's balance sheet and income statement appear below:

Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Current assets:
Cash and cash equivalents $ 29 $ 30
Accounts receivable 62 61
Inventory 41 39
Total current assets 132 130
Property, plant, and equipment 482 450
Less accumulated depreciation 217 250
Net property, plant, and equipment 265 200
Total assets $ 397 $ 330
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable $ 36 $ 40
Accrued liabilities 13 12
Income taxes payable 41 45
Total current liabilities 90 97
Bonds payable 46 40
Total liabilities 136 137
Stockholders equity:
Common stock 21 20
Retained earnings 240 173
Total stockholders equity 261 193
Total liabilities and stockholders' equity $ 397 $ 330

Income Statement
Sales $ 700
Cost of goods sold 426
Gross margin 274
Selling and administrative expense 173
Net operating income 101
Gain on sale of plant and equipment 9
Income before taxes 110
Income taxes 33
Net income $ 77

Cash dividends were $10. The company sold equipment for $17 that was originally purchased for $10 and that had accumulated depreciation of $2. The net cash provided by (used in) investing activities for the year was:

A) $(25)

B) $(42)

C) $25

D) $17

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