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\begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Comparative Balance sneets } \\ \hline \multicolumn{4}{|c|}{ At December 31,2023 and 2022} \\ \hline & 2023 & & 2022 \\ \hline \multicolumn{4}{|l|}{ Assets: } \\ \hline \multicolumn{4}{|l|}{ Current assets: } \\ \hline Cash & 57,000 & $ & 47,000 \\ \hline Accounts receivable: & 135,000 & & 146,000 \\ \hline Inventory & 164,500 & & 194,000 \\ \hline Total current assets & $356,500 & $ & 387,000 \\ \hline Land & 143,500 & & 143,500 \\ \hline Buildings & & & 287,500 \\ \hline Less: Accumulated depreciation & (122,500) & & (107,500) \\ \hline Total land & buildings & & $ & 323,500 \\ \hline Total assets & & $ & 710,500 \\ \hline \multicolumn{4}{|l|}{ Liabilities: } \\ \hline \multicolumn{4}{|l|}{ Current liabilities: } \\ \hline Accounts payable & & $ & 192,000 \\ \hline Note payable & 164,600 & & 127,500 \\ \hline Total current liabilities & $326,500 & 5 & 319,500 \\ \hline Long-term debt & & $ & 163,000 \\ \hline \multicolumn{4}{|l|}{ Stockholders' Equity: } \\ \hline Common stock & 52,000 & $ & 48,500 \\ \hline Retained earnings & & & 179,500 \\ \hline Total stockhoiders' equity & & $ & 228,000 \\ \hline Total liabisties and stockhoiders' equity & & 5 & 710,500 \\ \hline \end{tabular} Problem 9-29 (Algo) Complete balance sheet and prepare a statement of cash flows-indirect method LO 9-10, 9-11 Following is a partially 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 $97,000. - Dividends paid during the year ended December 31, 2023, were $62,500. - Accounts receivable decreased $11,000 during the year ended December 31, 2023. - The cost of new buildings acquired during 2023 was $130,500. - No bulldings were disposed of during 2023. - The land account was not affected by any transactions during the year, but the fair value of the land at December 31,2023 , was $195,000. 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. Complete this question by entering your answers in the tabs below. Complete the December 31,2023 , balance sheet. (Hint: Long-term debt is the last number to compute to make the balance sheet balance.)

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