Sheldon Company began Year 1 with $2,400 in its supplies account. During the year, the company purchased $7,100 of supplies on account. The company paid $3,300 on accounts payable by year end. At the end of Year 1. Sheldon counted $4,300 of supplies on hand. Sheldon's financial statements for Year 1 would show: Multiple Choice nt $6,200 of supplies, $1,900 of supplies expense $4,300 of supplies: $2,800 of supplies expense $4,300 of supplies; $5,200 of supplies expense $6,200 of supplies: $7,100 of supplies expense