The following comparative information is available for Cheyenne Corp. for 2017. Sales revenue Cost of goods sold Operating expenses (including depreciation) Depreciation Cash paid for inventory purchases LIFO $87,580 35,660 25,730 10,000 32,230 FIFO $87,580 29,900 25,730 10,000 32,230 Determine net income under each approach. Assume a 30% tax rate. LIFO FIFO Net income LINK TO TEXT Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and operating expenses, other than depreciation, were on a cash basis. LIFO FIFO Net cash provided by operating activities