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The amount of the total assets that should be reported on the balance sheet at the closing of year 2 is $2,725.
The following formula should be used for determining the total assets:
= Acquired cash + borrowed amount + revenues earned - expenses paid - dividend paid + issuance of the additional common stock - repaid debt amount + revenues earned - expenses paid - dividend paid
= $1,150 + $620 + $800 - $290 - $90 + $525 - $360 + $950 - $440 - $140
= $2,725
Therefore we can conclude that the amount of the total assets that should be reported on the balance sheet at the closing of year 2 is $2,725.
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