Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $3600 cash from issuing common stock. 2) Borrowed $2500 from a bank. 3) Earned $3400 of revenues. 4) Incurred $2460 in expenses. 5) Paid dividends of $460. Lexington Company engaged in the following transactions during Year 2: 1) Acquired an additional $800 cash from the issue of common stock. 2) Repaid $1510 of its debt to the bank. 3) Earned revenues, $4800. 4) Incurred expenses of $2870. 5) Paid dividends of $1000. Total liabilities on Lexington's balance sheet at the end of Year 1 equal:

		$800.
		($1510).
		$540.
		$2500.