Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $5,000 cash from issuing common stock. 2) Borrowed $3,200 from a bank. 3) Earned $4,100 of revenues. 4) Incurred $2,600 in expenses. 5) Paid dividends of $600. Lexington Company engaged in the following transactions during Year 2: 1) Acquired an additional $1,500 cash from the issue of common stock. 2) Repaid $2,000 of its debt to the bank. 3) Earned revenues, $5,500. 4) Incurred expenses of $3,150. 5) Paid dividends of $1,840. The amount of total assets on Lexington's balance sheet at the end of Year 1 was: 1