Packard Company engaged in the following transactions during Year 1. its first year of operations: (Assume all transactions are 1) Acquired $1,600 cash from the issue of common stock 2) Borrowed $1,070 from a bank 3) Earned $1.250 of revenues. 4) Pald expenses of $380. 5) Pald a $180 dividend. During Year 2. Packard engaged in the following transactions: (Assume all transactions are cash transactions.) 1) Issued an additional $975 of common stock. 2) Repaid $675 of its debt to the bank 3) Earned revenues of $1,400. 4) incurred expenses of $620. 5) Paid dividends of $230, What is the amount of total stockholders equity that will be reported on Packard's balance sheet at the end of Year 1? Multiple Choice 51420 1) Issued an additional $975 of common stock, 2) Repaid $675 of its debt to the bank. 3) Eamed revenues of $1,400 4) Incurred expenses of $620. 5) Paid dividends of $230, What is the amount of total stockholders' equity that will be reported on Packard's balance sheet at the end of Year 1? Multiple Choice $1,420 $690 $2.290 $2.470