Reference no: EM13504929

The following selected account balances were taken from ABC Company's general ledger at January 1, 2011 and December 31, 2011:

                                  January 1, 2011         December 31, 2011

Accounts receivable    52,000                36,000

Cash                      23,000                 47,000

Inventory               31,000                18,000

Accounts payable     11,000                37,000

Equipment              123,000               144,000

Salaries payable        2,000                 4,000

Investments            42,000                  ?

Land                     91,000                40,000

Mortgage payable      111,000                60,000

Common stock          110,000               125,000

Retained earnings      32,000                37,000

Additional information for 2011 appears below:

1.  ABC Company reported net cash inflows from operating activities of $60,000 and net cash outflows from financing activities of $87,000 

2.  ABC Company sold land costing $60,000 and recorded an $8,000 loss on the sale

3.  ABC Company purchased equipment for $21,000 cash

4.  ABC Company purchased investments for $60,000 cash and sold investments and reported a $25,000 gain on the sale

Calculate the balance in the investments account at December 31, 2011. Do not use decimals in your answer.