Problem 5-7 IN Cheyenne Inc. had the following balance sheet at December 31, 2016. oice CHEYENNE INC. vice BALANCE SHEET 8 DECEMBER 31, 2016 noice Cash $ 25,480 Accounts payable $ 35,480 hoice Accounts receivable 26,680 Bonds payable 46,480 44 hoice Investments 32,000 Common stock 105,480 53 Plant assets (net) 86,480 Retained earnings 28,680 choice 54 Land 45,480 $216,120 choice 23 $216,120 Choice 26 During 2017, the following occurred. Choice 1 29 1. Cheyenne liquidated its available-for-sale investment portfolio at a loss of $10,480. Choice n 55 2. A tract of land was purchased for $43,480. Choice 3. An additional $30,000 in common stock was issued at par. n 64 Choice 4. Dividends totaling $15,480 were declared and paid to stockholders. n 68 5. Net income for 2017 was $40,480, including $17 480 in depreciation expense. Choice 6. on 76 Land was purchased through the issuance of $35,480 in additional bonds. e Choice 7. At December 31, 2017, Cash was $75,680, Accounts Receivable was $47,480, and Accounts Payable was $45,480. on 71 e Choice on 100 Prepare a statement of cash flows for the year 2017 for Cheyenne. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in par le Choice (15,000).)