Bledsoe Company received $35,000 cash from the issue of stock on January 1, Year 1. During Year 1, Bledsoe earned $10,500 of revenue on account. The company collected $10,000 cash from accounts receivable and paid $7,400 cash for operating expenses. Based on this information alone, during Year 1, which of the following statements is true? Multiple Choice Total assets increased by $48,100. Total assets increased by $2,600. Total assets increased by $38,100.