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 hccounts Payable Retained earnings $2,600 1,300 1.600 850 3,475 Mccounts Receivable Common Stock Revenge Expense $1,250 1,775 1,600 950 What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1? Multiple Choice 56,750 $7,050 $5,450 54,200 What is the amount of net income that will be reported on the Year income statement Multiple Choice $650 $1,600 1450 S950 After closing, what is the balance of the Retained Earnings account on December 31, Year 1? Multiple Choice $4,200 $2,825 O $3,475