Followng is a partilly completed balance sheet for Hoeman Incorporated at December $31,2023,$ together with comparative data for the year ended December $31,2022.$ From the statement of cash flows for the year ended December $31,2023,$ you determine the following:

Net Income for the year ended December $31,2023,$ was $$97,500.$

Divdends pald during the year ended December $31,2023,$ were $$66,000.$

Accounts recelvable decreased $$15,000$ during the year ended December $31,2023.$

The cost of new bulldings acquired during $2023$ was $$128,000.$

No bulldings were disposed of during $2023.$

The land account was not affected by any transactions during the year, but the falr value of the land at December $31,2023,$ was $$187,500.$

Required:

a$.$ Complete the December $31,2023,$ 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 $31,2023,$ using the indirect method.

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Prepare a statement of cash flows for the year ended December $31,2023,$ using the indirect method.

Note: Amounts to be deducted should be indicated by a minus sign.

$\backslash$table$[[$HOEMAN INCORPORATED$],[$Statement of Cash Flows$],[$For the Year Ended December $31,2023],[$Cash flows from operating activities:,,$],[$Net income,$ $97,5000,],[$Add $($deduct$)$ items not affecting cash:,,$],[$Depreciation expense,$17,5000,],[$Decrease in accounts receivable,$15,0000,],[$Decrease in inventory,$29,000,],[$Decrease in accounts payable,$(25,500),]],[,,],[,,],[,,5,133,500$