Using the indirect method, Alex Company prepared a Statement of Cash Flows for the year ending 12-31-18. Alex's net cash flows from operating activities were $300,000. Three additional information items follow:

On 12-31-18, Alex leased a machine with a useful life of 4 years. The lease agreement required Alex to make 4 annual lease payments of $40,000 starting 12-31-18. Alex's borrowing rate on 12-31-17 was 4%. During 2018, Alex used $250,000 to purchase additional fixed assets. From the beginning of 2018 to the end of 2018, Alex's equity investments account (net of any fair value adjustment account) increased by $105,000. During 2017 and 2018, Alex had the following three equity investments.

(a) Alex's 2% ownership in Kaleb Company. Kaleb is a publicly-traded company. Alex purchased the stock on 12-01-17 for $5,000. As of 12-31-17, the fair value of the Kaleb stock was $5,400. On 03-31-18. Alex sold the Kaleb stock for $6,000. (b) Alex's 3% ownership in Sarah Company. Sarah is a publicly-traded company. Alex purchased the stock on 10-31-18 for $10,000. As of 12-31-18, the fair value of the Sarah stock was $9,800. (c) Alex's 40% ownership in Joe Company. Alex purchased the stock on 01-01-18 for $100,000. For the year ended 12-31-18, Joe Company reported a net income of $10,000.

During the year ended 12-31-18, Joe Company distributed cash dividends. For the year ended 12-31-18, what were Alex's cash flows used in investing activities? (Show all the works, and the calculation is required.)