Question: Exercise 1-14 (Part Level Submission) Cheyenne Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as

Exercise 1-14 (Part Level Submission) Cheyenne Corp., a public camping ground

Exercise 1-14 (Part Level Submission) Cheyenne Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2019. $190,400 63,920 Revenues during 2019-camping fees Revenues during 2019-general store Accounts payable Cash on hand Original cost of equipment Fair value of equipment Notes payable Expenses during 2019 Supplies on hand Common stock 14,960 27,200 143,480 190,400 $81,600 204,000 3,400 27,200 ? Retained earnings (a) Determine Cheyenne Corp.'s net income for 2019. Cheyenne Corp.'s net income $

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