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 $95,500. Dividends paid during the year ended December 31, 2020, were $62,500. Accounts receivable decreased $12,500 during the year ended December 31, 2020. The cost of new buildings acquired during 2020 was $134,000. 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 $179,000. 0 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. $ At December 31, 2020 and 2019 2020 2019 Assets: Current assets: Cash $ 53,500 $ 47,500 Accounts receivable 144,500 Inventory 168,500 184,500 Total current assets $ 376,500 Land 144,000 Buildings 275,500 Less: Accumulated depreciation (128,500) (110,000) Total land & buildings $ 309,500 Total assets $ 686,000 Liabilities: Current liabilities: Accounts payable $ 193,500 Note payable 156,500 125,000 Total current liabilities $ 324,000 $ 318,500 Long-term debt $ 143,000 Stockholders' Equity Common stock $ 50,000 $ 48,000 Retained earnings 176,500 Total stockholders' equity $ 224,500 Total liabilities and stockholders' equity $ 686,000 Cash flows from operating activities: Add (deduct) items not affecting cash: $ 0 Cash flows from investing activities: $ 0 Cash flows from financing activities: $ 0 0 $ Cash balance, January 1, 2020 Cash balance, December 31, 2020 $ 0 0