Sheldon Company began Year 1 with $1200 in its supplies account. During the year, the company purchased $3500 of supplies on account. The company paid $2100 on accounts payable by year end. At the end of Year 1, Sheldon counted $1900 of supplies on hand. Sheldon's financial statements for Year 1 would show: $2600 of supplies; $3500 of supplies expense $1900 of supplies; $2800 of supplies expense $1900 of supplies; $1600 of supplies expense $2600 of supplies; $700 of supplies expense