Nelson Company Experienced the Following Transactions During Year 1, Its

Multiple Choice

Nelson Company experienced the following transactions during Year 1, its first year in operation.Issued $8,400 of common stock to stockholdersProvided $4,700 of services on accountPaid $2,200 cash for operating expensesCollected $3,100 of cash from accounts receivablePaid a $220 cash dividend to stockholdersWhat is the total amount of assets shown on the balance sheet prepared as of December 31, Year 1?

A) $9,080
B) $10,680
C) $10,900
D) $9,520