! Required Information [The following information applies to the questions displayed below.) Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions) 1. Acquired $3,900 cash from Issuing common stock. 2. Borrowed $2,650 from a bank. 3. Earned $3,550 of revenues. 4. Incurred $2,490 in expenses. 5. Paid dividends of $490. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions) 1. Acquired an additional $950 cash from the issue of common stock. 2. Repaid $1,615 of its debt to the bank. 3. Earned revenues, $4,950. 4. Incurred expenses of $2,930. 5. Pald dividends of $1,180. What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2? Multiple Choice $1,845 outflow $1,845 inflow $950 Inflow $230 outflow What is the amount of total assets that will be reported on Lexington's balance sheet at the end of Year 1? Multiple Choice $3,890. O $7120 $7,260 $1,250 What was the amount of retained earnings that will be reported on Lexington's balance sheet at the end of Year 1? Multiple Choice $3,550 O $1,060 $570 $3,060 What was the amount of liabilities on Lexington's balance sheet at the end of Year 2? Multiple Choice $690 $1,035 $950 ($1615)