2. Award: 1.66 points Following is a partially completed balance sheet for Hoeman Inc. at December 31, 2020, together with comparative data for the year ended December 31, 2019. From the statement of cash flows for the year ended December 31, 2020, you determine the following: Net Income for the year ended December 31, 2020, was $94,500 Dividends paid during the year ended December 31, 2020, were $65,000 Accounts receivable decreased $12,500 during the year ended December 31, 2020 The cost of new buildings acquired during 2020 was $127.000 No buildings were disposed of during 2020 The land account was not affected by any transactions during the year, but the fair value of the land at December 31, 2020, was $187,500 Required: a. Complete the December 31, 2020, balance sheet. (Hint: Long-term debt is the last number to compute to make the balance sheet balance.) b. Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method Required A Required B Complete the December 31, 2020, balance sheet. (Hint: Long-term debt is the last number to compute to make sheet balance.) HOEMAN INC. Comparative Balance Sheets At December 31, 2020 and 2019 2020 2019 $ Assets: Current assets: Cash Accounts receivable Inventory Total current assets Land Buildings Less: Accumulated depreciation Total land & buildings Total assets Otomasyon 52,500 $ 46,500 SOS hub 142,000 156,500 182,500 $ 371,000 142,500 287,000 (123,000) (105,500) $ 324.000 $ 695,000 Liabilities: $ 192,500 157,000 129,000 329,000 $ 321,500 $ 148,000 Current liabilities: Accounts payable Note payable Total current liabilities Long-term debt Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 53,000 $ 46,500 179,000 $ 225,500 $ 695,000 Required 3 > Required A Required Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect met deducted should be indicated by a minus sign.) HOEMAN INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from operating activities: Add (deduct) items not affecting cash: Cash flows from investing activities: Cash flows from financing activities: Cash balance, January 1, 2020 Cash balance, December 31, 2020 Required A Required B >