Packard Company engaged in the following transactions during 2015, its first year in operations: (Assume all transactions are cash transactions.) Acquired $1, 350 cash from the issue of common stock. Borrowed $820 from a bank. Earned $1,000 of revenues. Paid expenses of $330. Paid a $130 dividend. During 2016, Packard engaged in the following transactions: (Assume all transactions are cash transactions.) Issued an additional $725 of common stock. Repaid $500 of its debt to the bank. Earned revenues of $1, 150. Incurred expenses of $520. Paid dividends of $180. The amount of total equity on Packard's 2015 balance sheet is $1, 890. $1, 220. $2, 020. $540. The amount of retained earnings on Packard's 2016 balance sheet is $990. $1-450. $1, 555. $1, 170