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 $11,100 of common stock for cash. 2) The company paid cash to purchase $6,900 of inventory. 3) The company sold inventory that cost $4,300 for $8,400 cash. 4) Operating expenses incurred and paid during the year, $3,800. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $9,400 of inventory. 2) The company sold inventory that cost $8,500 for $15,000 cash. 3) Operating expenses incurred and paid during the year, $4,800. Note: Sanchez uses the perpetual inventory system. What is the amount of inventory that will be shown on the balance sheet at December 31, Year 2? Multiple Choice 5:28 $3,500 $900 $16,800 $7,800