19 Concord Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions 1) Acquired $3,400 cash from Issuing common stock. 2) Borrowed $2.400 from a bank. 3) Earned $3,300 of revenues. 4) Incurred $2,440 in expenses. 5) Pald dividends of $440. 1.66 points 01:07:42 Concord Company engaged in the following transactions during Year 2: 1) Acquired an additional $700 cash from the issue of common stock. 2) Repaid $1,440 of its debt to the bank 3) Earned revenues, $4700 4) Incurred expenses of $2,830. 5) Paid dividends of $880. The amount of retained earnings on Concord's balance sheet at the end of Year was Multiple Choice $420 SAGO following transactions during Year 2: 1) Acquired an additional $700 cash from the issue of common stock. 2) Repaid $1,440 of its debt to the bank. 3) Earned revenues, $4,700. 4) Incurred expenses of $2,830. 5) Paid dividends of $880. The amount of retained earnings on Concord's balance sheet at the end of Year 1 was: Multiple Choice $420. $860 $3,300. $2,860