Help Save & E 27 00:25:15 Packard Company engaged in the following transactions during Year 1, its first year of operations. Assume all transactions are cash transactions. 1) Acquired $1,100 cash from the issue of common stock. 2) Borrowed $570 from a bank 3) Eamed $750 of revenues cash 4) Pald expenses of $280, 5) Paid a $80 dividend During Year 2 Packard engaged in the following transactions. (Assume all transactions are cash transactions) 1) Issued an additional $475 of common stock 2) Repaid $325 of its debt to the bank. 3) Earned revenues of $900 cash. 4) Incurred expenses of $120. 5) Pald dividends of $130 What is the amount of retained earnings that will be reported on Packard's Year 2 balance sheet