Nelson Company experienced the following transactions during Year 1, its first year in operation. 1. Acquired $6,200 cash by issuing common stock. 2. Provided $2,500 of services on account. 3. Paid $1,650 cash for operating expenses. 4. Collected $2,000 of cash from customers in partial settlement of its accounts receivable. 5. Paid a $110 cash dividend to stockholders. What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1? Multiple Choice $7,050. $6,440. $6,660 $6,940. 4