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 $750 of revenues. 4) Pald expenses of $270. 5) Pald 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. 4) Incurred expenses of $400. 5) Pald dividends of $120. 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 $290 $1.460 $1.530 $980