Required information [The following information applies to the questions displayed below.] Sanchez Company engaged in the following transactions during Year 1: 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, $4,700. 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 $2,150 $12,800 $2.900 57700