Mercedes issued common stock for $320,000 on the first day of 2005. It bought fixed-assets for $160,000 and inventory for $65,000. Late in the year, it sold fixed assets for their book value of $ 20,000. It sold one-half the inventory for $55,000 during the year. On December 15, the company used excess cash of $60,000 to purchase common stock of BMW company which Mercedes regarded as a long-term investment.
Prepare a statement of cash flows from investing activities for mercedes.
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