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Alexis Company was started in Year 1, At the end of Year 1 the Company's had the following accounting equation. During Year 2, the company

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Alexis Company was started in Year 1, At the end of Year 1 the Company's had the following accounting equation. During Year 2, the company experienced the following accounting events. Paid of $500 of its note payable. Earned $700 of cash revenue. Paid $400 of cash expenses. Paid a $100 cash dividend. Based on this information alone, what percent of the company's assets at the end of Year 2 were provided by earnings? 20% 24% 56% Some other percentage

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