The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts Payable Retained earnings $3,400 1,700 2,000 1,050 4,475 Accounts Receivable Common Stock Revenue Expense $1,450 2,175 2,000 1,150 What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1? Multiple Choice $5,400 $6,850 What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1? Multiple Choice $5,400 $6,850 $8,850 $8.550 What is the amount of net income that will be reported on the Year 1 income statement? Multiple Choice $650. $850. $1,150 $2,000. After closing, what is the balance of the Retained Earnings account on December 31, Year 1? Multiple Choice O $2,775. $5,400. $3.625. $4,475