Saved Help Save & Exit Submit Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.) 1) Acquired $1750 cash from the issue of common stock 2) Borrowed $1.220 from a bank 3) Earned $1.450 of revenues. 4) Pald expenses of $410, 5) Pald a $210 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions) 1) Issued an additional $1125 of common stock. 2 Repaid $780 of its debt to the bank. 3) Earned revenues of $1,550. 4) Incurred expenses of $680. 5) Pald dividends of $260. What is the amount of total stockholders' equity that will be reported on Packard's balance sheet at the end of Year 1