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 $66,500. Accounts receivable decreased $12,000 during the year ended December 31, 2020. The cost of new buildings acquired during 2020 was $134,500, . 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 $184,500 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 B Complete the December 31, 2020, balance sheet. (Hint: Long-term debt is the last number to compute to make the balance sheet balance.) HOEMAN INC. Comparative Balance Sheets At December 31, 2020 and 2019 2020 2019 Assets Comparative Balance sheets At December 11, 2020 and 2010 $ Assets: Current assets: Cash Accounts receivable Inventory Total current assets Land Buildings Less: Accumulated depreciation Total and buildings Totalsts Liabilities: Current liabilities Accounts payable Notepayable Total current Babes Long-term debt Stockholders' Equity Common ock Retained earnings Total stockholders Totes and stockholders'uty 55,000 $ 46,500 136,500 148.500 167.000 192.000 $ 387.000 147,000 147.000 151,000 285,500 (129,500) (113,500) $ 319.000 $ 706,000 $ 195,500 160.500 128 500 $ 323,50 S 324.000 $ 100.000 $ 53.500 5 46.000 176.000 222.000 706.000 $ S Required B > MacBook Air 999 F * # 3 $ 4 % 5 A 6 & 7 8 9 0 W E R T Y U O S D F G H j L 2 V B. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a statement of cash flows for the year ended December 31, 2020, using the Indirect method. (Amounts to be 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: $ 0 Cash flows from investing activities: $ Cash flows from financing activities MacBook Air 30 F4 A * # 3 % 5 & 7 4 8 9 0 E R T Y U O S D F G H . J K . 9 - St. of Cash Flows (10 points) Saved Statement of Cash Flow For the Year Ended December 31, 2020 Cash flows from operating activities: Add (deduct) items riot affecting cash: ok ences $ 0 Cash flows from investing activities $ 0 Cash flows from financing activities: 0 $ $ Cash balance, January 1, 2020 Cash balance, December 31, 2020 $ 0 MacBook Air * go 000 5 $ 4 % 5 2 & 7 3 6 8 8 9 W E R. T Y U 1 C