Cheyenne Corporation had the following 2017 income statement.

Revenues	$92,000
Expenses	64,000
$28,000

In 2017, Cheyenne had the following activity in selected accounts.

Accounts Receivable

1/1/17	20,000
Revenues	92,000
12/31/17	29,100

Write-offs	900
Collections	82,000

Allowance for Doubtful Accounts

Write-offs	900

1/1/17	1,200
Bad debt expense	1,800
12/31/17	2,100

(a)Prepare Cheyennes cash flows from operating activities section of the statement of cash flows using the direct method.

CheyenneCorporation Statement of Cash Flows-Direct Method (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Decrease in Net Accounts ReceivableCash Payments for ExpensesIncrease in Net Accounts ReceivableNet IncomeCash Received from Customers	$
Net IncomeCash Received from CustomersCash Payments for ExpensesDecrease in Net Accounts ReceivableIncrease in Net Accounts Receivable
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash	$

(b)Prepare Cheyennes cash flows from operating activities section of the statement of cash flows using the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

CheyenneCorporation Statement of Cash Flows-Indirect Method (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Net IncomeCash Payments for ExpensesCash Received from CustomersDecrease in Net Accounts ReceivableIncrease in Net Accounts Receivable	$
Cash Received from CustomersCash Payments for ExpensesNet IncomeIncrease in Net Accounts ReceivableDecrease in Net Accounts Receivable
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash	$