Packard Company engaged in the following transactions during 2015, its first year in operations: (Assume all transactions are cash transactions.) 1) Acquired $1,250 cash from the issue of common stock. 2) Borrowed $720 from a bank. 3) Earned $900 of revenues. 4) Paid expenses of $310. 5) Paid a $110 dividend. During 2016, Packard engaged in the following transactions: (Assume all transactions are cash transactions.) 1) Issued an additional $625 of common stock. 2) Repaid $430 of its debt to the bank. 3) Earned revenues of $1,050. 4) Incurred expenses of $480. 5) Paid dividends of $160. rev: 05_21_2015_QC_CS-16168, 06_05_2015_QC_CS-16990 4. Required information The amount of total equity on Packard's 2015 balance sheet is $480. $1,840. $1,730. $1,140.