Required information [The following information applies to the questions displayed below) Sanchez Company engaged in the following transactions during Year 1) Started the business by issuing $12,900 of common stock for cash 2) The company paid cash to purchase $7,800 of inventory 3) The company sold inventory that cost $5.200 for $10,650 cash 4) Operating expenses incurred and paid during the year, $4700. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $11,200 of inventory 2) The company sold Inventory that cost $9.400 for $17.250 cash, 3) Operating expenses incurred and paid during the year $5.700. Note: Sanchez uses the perpetual Inventory system What is the amount of retained earnings that will be shown on the balance sheet at December 31, Year 2? Multiple Choice $12,800 $2,900 $2.150 57700