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 $95,000 Dividends paid during the year ended December 31, 2020, were $63,000. Accounts receivable decreased $11,000 during the year ended December 31, 2020. The cost of new buildings acquired during 2020 was $129,000. . 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 $194,500 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 Complete this question by entering your answers in the tabs below. Required A Required Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method Amounts to be hu HOEMAN INC. Comparative Balance Sheets At December 31, 2020 and 2019 2020 2019 Assets: Current assets: $ Cash Accounts receivable Inventory Total current assets Land 52,000 $ 46,500 136,000 161,000 192,000 $ 374,500 145,000 283,000 (125,500) (109,000) $ 319,000 $ 693,500 Buildings Less: Accumulated depreciation Total land & buildings Total assets Liabilities: Current liabilities: Accounts payable Note payable Total current liabilities $ 164,500 192,500 126,500 319,000 332,000 $ Current assets: Cash $ $ Accounts receivable Inventory Total current assets Land Buildings Less: Accumulated depreciation Total land & buildings Total assets 52,000 $ 46,500 136,000 161,000 192,000 $ 374,500 145,000 283,000 (125,500) (109,000) $ 319,000 $ 693,500 Liabilities: $ 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 164,500 $ 332,000 $ $ 192,500 126,500 319,000 150,500 $ 53,500 $ $ 45,500 178,500 $ 224,000 $ 693,500 HOEMAN INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from operating activities: Add (deduct) items not affecting cash: $ 0 Cash flows from investing activities: $ $ 0 Cash flows from financing activities $ 0 Cash flows from investing activities: $ 0 Cash flows from financing activities: 0 $ $ 0 Cash balance, January 1, 2020 Cash balance, December 31, 2020 $