Problem:

Gasco Corporation's balance sheet and income statement appear below: Cash dividends were $54. The company sold equipment for $14 that was originally purchased for $8 and that had accumulated depreciation of $1. It did not issue any bonds payable or repurchase any of its own common stock. The net cash provided by (used in) financing activities for the year was:

A) $(54)

B) $2

C) $(72)

D) $(20)

Note: Explain in detail.