A company runs into financial distress and needs cash immediately. It sells a factory that's listed at $100 on its Balance Sheet for $80. What happens on the 3 statements?

a) Income Statement: Gain of $20, Cash Flow Statement: Decrease in investing activities, Balance Sheet: Decrease in assets.

b) Income Statement: Loss of $20, Cash Flow Statement: Increase in operating activities, Balance Sheet: Increase in cash.

c) Income Statement: Gain of $20, Cash Flow Statement: Increase in financing activities, Balance Sheet: Increase in liabilities.

d) Income Statement: Loss of $20, Cash Flow Statement: Increase in investing activities, Balance Sheet: Decrease in liabilities.