Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1,300 cash from the issue of common stock. 2) Borrowed $770 from a bank. 3) Earned $950 of revenues cash. 4) Paid expenses of $320. 5) Paid a $120 dividend. During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $675 of common stock. 2) Repaid $465 of its debt to the bank. 3) Earned revenues of $1,100 cash. 4) Incurred expenses of $500. 5) Paid dividends of $170. What was the amount of total stockholders' equity on Packard's balance sheet at the end of Year 1? Multiple Choice $320 $1,930 Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1,050 cash from the issue of common stock. 2) Borrowed $520 from a bank. 3) Earned $700 of revenues cash. 4) Paid expenses of $270. 5) Paid a $70 dividend. During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $425 of common stock. 2) Repaid $290 of its debt to the bank. 3) Earned revenues of $850 cash. 4) Incurred expenses of $400. 5) Paid dividends of $120. What is the net cash inflow from operating activities on Packard's statement of cash flows for Year 2? Multiple Choice $360 $700 Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1,800 cash from the issue of common stock. 2) Borrowed $1,270 from a bank. 3) Earned $1,450 of revenues cash. 4) Paid expenses of $420. 5) Paid a $220 dividend. During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $1,175 of common stock. 2) Repaid $815 of its debt to the bank.. 3) Earned revenues of $1,600 cash. 4) Incurred expenses of $700. 5) Paid dividends of $270. What is the amount of Packard Company's net cash flow from financing activities for Year 2? Multiple Choice Net outflow of $815 Net inflow of $905. Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $78,000 2) borrowed $44,000 from its bank 3) provided consulting services for $77,000 cash 4) paid back $34,000 of the bank loan 5) paid rent expense for $18,500 6) purchased equipment for $31,000 cash 7) paid $4,900 dividends to stockholders 8) paid employees' salaries of $40,000 What is Yowell's net income for Year 1? Multiple Choice $18,500 $58,500 $35,100 Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1,800 cash from the issue of common stock. 2) Borrowed $1,270 from a bank. 3) Earned $1,450 of revenues cash. 4) Paid expenses of $420. 5) Paid a $220 dividend. During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $1,175 of common stock. 2) Repaid $815 of its debt to the bank. 3) Earned revenues of $1,600 cash. 4) Incurred expenses of $700. 5) Paid dividends of $270. What is the amount of retained earnings that will be reported on Packard's Year 2 balance sheet? Multiple Choice $1,820 $1,440 9