Required Information [The following information applies to the questions displayed below) The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31 Year 1: Cash Dividende Land hcounts Payable Retnined earnings $2,600 1.300 1.600 050 Mocounts Receivable Conon stock Revenue Inne $1,250 1.995 1,500 950 What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1? Multiple Choice $6750 57050 O $5.450 54200 What is the amount of net income that will be reported on the Year 1 Income statement? Multiple Choice 5650 $1.600 $450 $950 After closing, what is the balance of the Retained Earnings account on December 31, Year 1? Multiple Choice $4,200. $2,825 $3,475 32.175