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 $98,000.
• Dividends paid during the year ended December 31, 2020, were $66,500.
• Accounts receivable decreased $11,000 during the year ended December 31, 2020.
• The cost of new buildings acquired during 2020 was $126,500.
• 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 $183,500.

Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. **all these are correct. What is missing from the statement of cash flows?**

HOEMAN INC. Comparative Balance Sheets At December 31, 2020 and 2019 2020 2019 $ 54,500 124,500 170,500 $ 349,500 140,000 409,000 (128,500) $ 420,500 $ 770,000 $ 47,500 135,500 180,500 $ 363,500 140,000 282,500 (111,500) $ 311,000 $ 674,500 Assets: Current assets: Cash Accounts receivable Inventory Total current assets Land Buildings Less: Accumulated depreciation Total land & buildings Total assets 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 $ 172,500 158,000 $ 330,500 $ 171,000 $ 196,000 128,000 $ 324,000 $ 121,000 $ 53,000 215,500 $ 268,500 $ 770,000 $ 45,500 184,000 $ 229,500 $ 674,500 HOEMAN INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from operating activities: Net income $ 98,000 Add (deduct) items not affecting cash: Decrease in accounts receivable 11,000 Decrease in inventory 10,000 Decrease in accounts payable (23,500) Increase in note payable 30,000 Depreciation expense 17,000 $ 142,500 Net cash provided by operating activities Cash flows from investing activities: Cash paid to acquire new buildings $ 126,500) $ (126,500) Cash flows from financing activities: 50,000 7,500 (66,500) Cash received from issuance of long-term debt Cash received from issuance of common stock Payment of cash dividends on common stock Net cash used by financing activities Net increase in cash for the year Cash balance, January 1, 2020 Cash balance, December 31, 2020 $ $ (9,000) 7,000 47,500 54,500 $