Santa Fe Company was started on January 1, Year 1, when it acquired $8,300 cash by issuing common stock. During Year 1, the company earned cash revenues of $3,950, paid cash expenses of $2,900, and paid a cash dividend of $450. Based on this information, which of the following statements is true?

Multiple Choice :

1. The balance sheet at December 31, Year 1 would show total stockholders equity of $12,250.

2. The Year 1 statement of cash flows would show a net cash flow from financing activities of $7,850.

3. The Year 1 income statement would show net income of $600.

4. The Year 1 statement of cash flows would show net cash inflow from operating activities of $8,300.