Required information [The following information applies to the questions displayed below) Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.) 1) Acquired $1,800 cash from the issue of common stock 2) Borrowed $1.270 from a bank. 3) Earned $1,450 of revenues. 4) Pald expenses of $420. 5) Paid a $220 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions) 1) Issued an additional $1,175 of common stock. 2) Repaid $815 of its debt to the bank. 3) Earned revenues of $1,600. 4) Incurred expenses of $700. 5) Pald dividends of $270. What is the amount of total stockholders' equity that will be reported on Packard's balance sheet at the end of Year 1? 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 $310. $2,830. $2,61. S1,580.