how to calculate net cash flow provided by investing activities

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Question

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

Dooling Corporation Comparative Balance Sheet
	Ending Balance	Beginning Balance
Assets:
Cash and cash equivalents	$ 40	$ 41
Accounts receivable	73	72
Inventory	52	50
Property, plant and equipment	592	505
Less: accumulated depreciation	239	272
Total assets	$518	$396
Liabilities and stockholders' equity:
Accounts payable	$ 47	$ 51
Accrued liabilities	24	23
Income taxes payable	52	56
Bonds payable	101	95
Common stock	76	75
Retained earnings	218	96
Total liabilities and stockholders' equity	$518	$396

Income Statement
Sales	$810
Cost of goods sold	481
Gross margin	329
Selling and administrative expenses	146
Net operating income	183
Gain on sale of plant and equipment	21
Income before taxes	204
Income taxes	61
Net income	$ 143

Cash dividends were $21. The company sold equipment for $39 that was originally purchased for $21 and that had accumulated depreciation of $3. The net cash

provided by (used in) investing activities for the year was:

a. $(108)

b. $69

c. $39

d. $(69)

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