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1 Saved Help Save O Required information The following information applies to the questions displayed below.) Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions) 1. Acquired $4,400 cash from Issuing common stock 2. Borrowed $2,900 from a bank. 3. Earned $3,800 of revenues. 4. Incurred $2,540 In expenses. 5. Pald dividends of $540. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions) 1. Acquired an additional $1,200 cash from the issue of common stock. 2. Repaid $1,790 of its debt to the bank. 3. Earned revenues, $5,200. 4. Incurred expenses of $3,030, 5. Pald dividends of $1,480, What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2? Multiple Choice $2.070 outflow $2,070 Inflow $1200 inbow $280 outflow What is the amount of total assets that will be reported on Lexington's balance sheet at the end of Year 1? Multiple Choice $8,020 $7,960 $1,500 $3.940. What was the amount of retained earnings that will be reported on Lexington's balance sheet at the end of Year 1? Multiple Choice $3,800 $720 $1.260 $3.260 What was the amount of liabilities on Lexington's balance sheet at the end of Year 2? Multiple Choice $1,200 $940 ($1,790) $1,110