53 Ivory Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Cash and cash equivalents. $ 37 $ 40 Accounts receivable. 44 42 Inventory. 63 Plant and equipment.. 443 440 Accumulated depreciation. (268) (230) Total assets.. $319 $345 Liabilities and stockholders' equity: Accounts payable $ 45 Wages payable 26 25 Taxes payable....... Bonds payable. 127 120 Deferred taxes 18 19 Common stock 63 60 Retained earnings .... 28 59 Total liabilities and stockholders' equity... $319 $345 $ 41 16 17 Income Statement Sales ...... $386 Cost of goods sold. 239 Gross margin 147 Selling and administrative expense.. 185 Net operating income... ( 38) Gain on sale of plant and equipment. 8 Income before taxes. (30) Income taxes 0 Net income... ($ 30) Cash dividends were $1. The company sold equipment for $19 that was originally purchased for $15 and that had accumulated depreciation of $4. The net cash provided by (used by) investing activities for the year was: A. ($18) B. $1) C. $1 D. $19