My Drive - Google. C All County First Cho.. Melds https://www.semin. OnsiteOrders of Cash Flows (10 points) Save Following is a partially completed balance sheet for Hoeman Inc at December 31, 2020, together with comparative data for the yea 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 $98,500 Dividends paid during the year ended December 31, 2020. were $64.500. Accounts receivable decreased $14,500 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 $189.000 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 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) 00.500 HOEMAN DC Statement of Cash Flow For the Year Ended December 31, 2020 Cash flows from operating activities Pret income 5 Ada (deduct) is not affecting cash Deprecation expense Decrease in accounts receivable Decrease in inventory increase in note payable Decrease in scoounts payable 14.500 5 113,000 Cashows from investing acces Cash paid to our new buildings 0 Cash flows from financing movies Cash received from sunce of long term dat Cash reserved romances Required A Required B Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect 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 Net income s 98.500 Add (deduct items not affecting cash: Depreciation expense Decrease in accounts receivable 14.500 Decrease in inventory Increase in note payable Decrease in accounts payable GOOOO 113,000 Cash flows from investing activities Cash paid to acquire new buildings 15 0 Cash flows from financing activities: Cash received from issuance of long-term debt Cash received from issuance of common stock Payment of cash dividends on common stock OGO OB is 0 113.000 Net cash used by financing activities Net increase in cash for the year Cash balance, January 1, 2020 cash balance, December 31, 2020 $ 113,000