At the end of Year 1. Clayton company had $6.ooo of cash. szooo land. s2.ooo of common stock, and S8000 of retained earnings During Year 2. Clayton experienced the following events 1 Borrowed $1,500 cash. 2. Earned $6,500 of cash revenue. 3, Paid $4,000 of cash expenses. 4. Paid $5,000 cash to purchase land. Based on this information the amount of total assets, total liabilities, and retained earnings appearing on the Year 2 financial statements is Total Assets Total Liabilities Retained Earnings $5,000 $5,500 $8,500 Total Liabilities Retained Earnings Total Assets $10.500 $17000 $3.500 Retained Earnings Total Liabilities Total Assets $10.500 $2,000 $11,000 O Total Assets Total Liabilities Retained Earnings $11,000 $2,500 $5.500 O Ask me anything