Cheyenne Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2020 Revenues during 2020-camping fees $190,400 Notes payable $81,600 Revenues during 2020-general store 63,920 Expenses during 2020 204,000 Accounts payable Cash on hand 3,400 14,960 27.200 Supplies on hand Common stock 27,200 Original cost of equipment Retained earnings 143,480 190,400 Fair value of equipment Your answer is correct. Determine Cheyenne Corp's net income for 2020. Cheyenne Corp.'s net income $ 50320 Prepare a balance sheet for Cheyenne Corp. as of December 31, 2020. (List Assets in order of liquidity.) Cheyenne Corp. Balance Sheet December 31, 2020 Assets Cash 27200 Supplies 3400 Equipment Liabilities and Stockholders' Equity