Packard company engaged in the following transactions during year 1, its first year of operations: ( assume all transactions are cash transactions.) 1) acquired $1100 cash from the issue of common stock. 2) borrowed $570 from a bank. 3) earned $750 of revenues. 4) paid 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. 4) incurred expenses of $420. 5) paid dividends of $130. what is the amount of total stockholders' equity that will be reported on packard's balance sheet at the end of year 1?
a. $1570.
b. $1490.
c. $1020.
d. $390.