Help Save & Exit Submit Lexington Company engaged in the following transactions during Year 1 its first year in operation (Assume all transactions are cash transactions) 1. Acquired $6,000 cash from issuing common stock 2. Borrowed $4,400 from a bank 3. Earned $6,200 of revenues. 4. Incurred $4.800 in expenses. 5. Paid dividends of $800 Lexington Company engaged in the following transactions during Year 2: Assume all transactions are cash transactions) 1. Acquired an additional $1000 cash from the issue of common stock. 2. Repaid $2,600 of its debt to the bank. 3. Eamed revenues, $9,000. 4. Incurred expenses of $5,500. 5. Pald dividends of $1.280. What was the amount of liabilities on Lexington's balance sheet at the end of Year 2? Multiple Choice ($2,600)