• Acquired $3,100 cash from issuing common stock.
• Borrowed $2,250 from a bank.
• Earned $3,150 of revenues.
• Incurred $2,410 in expenses.
• Paid dividends of $410.

Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions)

• Acquired an additional $550 cash from the issue of common stock.
• Repaid $1,335 of its debt to the bank.
• Earned revenues, $4,550.
• Incurred expenses of $2,770.
• Paid dividends of $700.

What is the amount of total assets that will be reported on Lexington's balance sheet at the end of Year 1?

Multiple Choice

• $850
• $3,810
• $6,140
• $5,680