The financial statements of Cheyenne Ltd. include the following items at December 31, 2025. Accounts payable...

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The financial statements of Cheyenne Ltd. include the following items at December 31, 2025. Accounts payable Accounts receivable Cash Accumulated depreciation-buildings 44,520 Accumulated depreciation-equipment 18,900 Buildings Common stock Equipment (a) $18,520 Net income 18,300 $ 117,760 21,150 123,200 58,160 Income tax expense Interest expense Interest payable Land Supplies $4,560 Calculate net income and the ending balance of retained earnings at December 31, 2025. 4,000 1,840 170,720 Long-term investments Mortgage payable Operating expenses Prepaid insurance Retained earnings, January 1 102,540 Service revenue 161,070 25,510 91,520 139,620 1,260 1,070 The financial statements of Cheyenne Ltd. include the following items at December 31, 2025. Accounts payable Accounts receivable Cash Accumulated depreciation-buildings 44,520 Accumulated depreciation-equipment 18,900 Buildings Common stock Equipment (a) $18,520 Net income 18,300 $ 117,760 21,150 123,200 58,160 Income tax expense Interest expense Interest payable Land Supplies $4,560 Calculate net income and the ending balance of retained earnings at December 31, 2025. 4,000 1,840 170,720 Long-term investments Mortgage payable Operating expenses Prepaid insurance Retained earnings, January 1 102,540 Service revenue 161,070 25,510 91,520 139,620 1,260 1,070

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