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Nelson Company experienced the following transactions during Year 1, its first year in operation. Issued $7,200 of common stock to stockholders. Provided $3,500 of services

Nelson Company experienced the following transactions during Year 1, its first year in operation.

  1. Issued $7,200 of common stock to stockholders.
  2. Provided $3,500 of services on account.
  3. Paid $1,900 cash for operating expenses.
  4. Collected $2,500 of cash from accounts receivable.
  5. Paid a $160 cash dividend to stockholders.

The total amount of assets shown on Nelson Company's December 31, Year 1 balance sheet is:

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