Sheldon Company began Year 1 with $1,200 in its supplies account During the year, the company purchased $3,400 of supplies on account. The company paid $3,000 on accour payable by year end. At the end of Year 1, Sheldon counted $1,400 of supplies on hand. Sheldon's financial statements for Year 1 would show Multiple Cholce $1600 of supplies, $200 of supplies expense 1,400 of supplies $2.000 of supples pense 1,400 of supplies $3.200 of supplies x 1600 of supplies: $3.400 of suppies espense Sheldon Company began Year t with $1,200 in its supplies account During the year,the company purchased $3,400 of supplies on account. The company paid $3,000 on accou payable by year end. At the end of Year 1, Sheldon counted S1,400 of supplies on hand Sheldon's financial statements for Year t would show Multiple Choice $1600 of supplios: $200 of supplies expense 1.400 of supplies $2.000 of suppies expense $1400 of suppies; $3.200 of supples expense $1.800 of supplias: $3.400 of supples expense Please explein why C s tu correct ansure because J thou Awas