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A company had the following sequential transactions during the year: 1) Issued 1,000 shares of...

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A company had the following sequential transactions during the year: 1) Issued 1,000 shares of $2 par value stock for $12 per share. 2) Repurchased 100 shares of stock at $10 per share. 3) Paid dividends of $1 per share. 4) Had $1,500 in net income. What is the balance in retained earnings at the end of the year? $600 Cannot be determined with the information provided. O $1,500 O $500

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