The following account balances were drawn from the Year 1 financial statements of Grayson Company: Cash Accounts receivable Land What is the balance of the Common Stock account? Multiple Choice $700 $8,200 $10,700 $4,900 Accounts payable $1,500 $2,000 Common stock ? $8,500 Retained earnings, January 1 $3,200 Revenue $10,000 Expenses $7,500