$500,000 NEEDLES CORPORATION Income Statement Year Ended December 31, 2013 Sales Expenses: Cost of goods sold $295,000 Operating expenses 65,000 Depreciation expense 17,000 Interest expense 18,000 Loss on sale of equipment 3,000 Profit before income tax Income tax expense Profit 398,000 102,000 15,300 $86,700 Additional information regarding fiscal 2013: 1. New equipment costing $85,000 was purchased for cash. 2. Old equipment costing $25,000 was sold for $10,000 cash when the carrying amount was $13,000. 3. Cash dividends were declared and paid during the year. 4. Accounts payable pertain to merchandise purchases. Cash Flow from (or used by) Investing Activities for Needles Corporation is? O ($90,000) O ($120,300) O($105,000) O $95,000 O None of the above