Das Slatements Seved Help Save Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1.200 cash from the issue of common stock. 2) Borrowed $670 from a bank 3) Earned $850 of revenues cash. 4) Pald expenses of $300 5) Paid a $100 dividend. 35.43 During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $575 of common stock. 2) Repaid $395 of its debt to the bank. 3) Earned revenues of $1,000 cash. 4) Incurred expenses of $460. 5) Paid dividends of $150. Total assets on Packard's balance sheet at the end of Year 2 will equal Multiple Choice $3.040 $2,890 M G