5 ABC Company had the following transactions in Year 1: Issued common stock for $100. Earned $700 of service revenue. Half was paid in cash, the other half was sold on account ABC Co. incurred $80 of operating expenses on account ABC Co. paid $20 of the accounts payable. ABC Co. purchased $300 of equipment in cash. What is the amount of Total Assets ABC will report on the year-end Balance Sheet? $780 $750 $1,020 $1,100