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

Comparative Balance Sheet
	Ending Balance			Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$	38		$	39
Accounts receivable		71			70
Inventory		50			48
Total current assets		159			157
Property, plant, and equipment		572			495
Less accumulated depreciation		235			268
Net property, plant, and equipment		337			227
Total assets	$	496		$	384
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	45		$	49
Accrued liabilities		22			21
Income taxes payable		50			54
Total current liabilities		117			124
Bonds payable		91			85
Total liabilities		208			209
Stockholders equity:
Common stock		66			65
Retained earnings		222			110
Total stockholders equity		288			175
Total liabilities and stockholders' equity	$	496		$	384

Income Statement
Sales	$	790
Cost of goods sold		471
Gross margin		319
Selling and administrative expense		159
Net operating income		160
Gain on sale of plant and equipment		27
Income before taxes		187
Income taxes		56
Net income	$	131

Cash dividends were $19. The company sold equipment for $35 that was originally purchased for $19 and that had accumulated depreciation of $11. The net cash provided by (used in) investing activities for the year was:

Multiple Choice

$35

$(61)

$(96)

$61