1. Z Company, a manufacturr, prepares monthly financial statements. On August 1, total equitis were $110,634. The following transactions occurrd during August:

• Issud additional shares of stock for $108,000.
• Acquired $8,600 of direct materials, $4,214 of it paid for with cash, the rst bought on opn account.
• A one-year rental agreement was signed for $7,700 per month. Rent for th first two months was paid in advance.
• Product sals were $125,000, $23,919 of which were cash sales; the rest were on account. Product costs were $83,750.
• Paid wags and salaries of $10,913.
• Paid $23,919 to suppliers for materials that X Company had prviously purchased on account.
• Collected $23,571 from customers who had previously purchasd products from Z Company on the account.

What would total equitis be on August 31? [Ignore adjusting entries.]

A: $51,903

B: $75,260

C: $109,126

D: $158,233

E: $229,438

F: $332,685