Exercise 12-4 The current sections of Cheyenne Corp.'s balance sheets at December 31, 2016 and 2017, are presented here. Cheyenne Corp.'s net income for 2017 was $168,912 Depreciation expense was $29,808 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $115,920 88,320 185,472 29,808 $419,520 $109,296 98,256 189,888 24,288 $421,728 Total current assets Current liabilities Accrued expenses payable Accounts payable 16,560 93,840 $110,400 $5,520 101,568 $107,088 Total current liabilities