10:10 Packard Company engaged in the following transactions during Year 1. its first year of operations. (Assume all transactions are cash transactions) 1) Acquired $1.200 cash from the issue of common stock 2) Borrowed $670 from a bank 3) Eamed $850 of revenues cash. 4) Paid expenses of $300. 5) Paid a $100 dividend During Year 2. Packard engaged in the following transactions. (Assume will transactions are cash transactions.) 1) Issued an additional $575 of common stock 2) Repaid $395 of its debt to the bank 3) Earned revenues of $1.000 cash 4) incurred expenses of $460. 5) Pald dividends of $150 What was the amount of total stockholders' equity on Packard's balance sheet at the end of Year 1