Required Information [The following Information applies to the questions displayed below.) Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) 1. Acquired $4,200 cash from Issuing common stock. 2. Borrowed $2,800 from a bank. 3. Earned $3,700 of revenues. 4. Incurred $2,520 In expenses. 5. Pald dividends of $520. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.) 1. Acquired an additional $1,100 cash from the issue of common stock. 2. Repald $1,720 of its debt to the bank. 3. Earned revenues, $5,100. 4. Incurred expenses of $2.990. 5. Pald dividends of $1,360. What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2? Multiple Choice O $1.100 Inflow O $1.980 Inflow O $260 outflow $1.980 outflow What is the amount of total assets that will be reported on Lexington's balance sheet at the end of Year 1? Multiple Choice $7.660 $1.400 $7.680 What was the amount of retained earnings that will be reported on Lexington's balance sheet at the end of Year 1? Multiple Choice $3,700. $1,180