SB Packard Company engaged in the followin... [The following information applies to the questions displayed below.] Packard Company engaged in the following transactions during 2015, its first year in operations: (Assume all transactions are cash transactions.)

1) Acquired $1,850 cash from the issue of common stock.

2) Borrowed $1,320 from a bank.

3) Earned $1,500 of revenues.

4) Paid expenses of $430.

5) Paid a $230 dividend.

During 2016, Packard engaged in the following transactions: (Assume all transactions are cash transactions.)

1) Issued an additional $1,225 of common stock.

2) Repaid $850 of its debt to the bank.

3) Earned revenues of $1,650.

4) Incurred expenses of $720.

5) Paid dividends of $280.

The amount of assets on Packard's 2016 balance sheet is

Multiple Choice

$5,035.

$930.

$5,315.

$1,025.