Packard Company engaged in the following transactions during Year 1, its first year of operations (Assume all transactions are cash transactions) 2 1) Acquired $1,300 cash from the issue of common stock 2) Borrowed $770 from a bank. 3) Earned $1,000 of revenues 4) Pald expenses of $320 5) Pald a 5120 dividend 01:45-15 During Year 2. Packard engaged in the following transactions (Assume all transactions are cash transactions) 1) Issued on additional $675 of common stock 2) Repaid $465 of its debt to the bank 3) Earned revenues of $1100 4) incurred expenses of $500 5) Paid dividends of $170. What is the amount of total stockholders' equity that will be reported on Packard's balance sheet at the end of Year 1? 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 $1,980 O $1,180 $1,860 $390