He! 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 $64,000. Accounts receivable decreased $11,500 during the year ended December 31, 2020. The cost of new buildings acquired during 2020 was $132,500. . 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 $182,000. 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: Current assets 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: Current assets: Cash $ 55,500 $ 47,000 Accounts receivable 137,500 Inventory 175,000 181,500 Total current assets $ 366,000 Land 146,500 Buildings 285,500 Less: Accumulated depreciation (125,000) (107,500) Total land & buildings $ 324,500 Total assets $ 690,500 Liabilities: Current liabilities: Accounts payable $ 187,500 Note payable 163,500 126,000 Total current liabilities $ 331,000 $ 313,500 Long-term debt $ 153,000 Stockholders' Equity Common stock $ 52.500 5 47,500 Retained earnings 176,500 Total stockholders' equity $ 224,000 $ Total liabilities and stockholders' equity 690,500 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: Cash flows from investing activities: Cash flows from financing activities: Cash balance, January 1, 2020 Cast balance. December 31, 2020