1:26 4 Assets January 1, 2021 Equities Accounts Cash $80,419 $221,840 Payable Accounts Wages Receivable 12,351 1,098 Payable Notes Inventory 152,808 33,739 Payable Prepaid Paid-In 6,034 250,413 Rent Capital Retained Equipment 319,516 64,038 Earnings Total Total $571,128 Assets Equities $571,128 D The following summary transactions occurred during 2021: borrowed $4,458 from the bank purchased $319,255 of merchandise on account and $157,245 for cash sold merchandise for $444,664 on account and $272,536 for cash; the merchandise cost $387,288 paid $5,686 for land and equipment received $8,626 in cash contributions from new owners Note: For the questions below, ignore adjusting entries on December 31, 2021. 6. What was the cash balance on December 31, 2021? OA: OB: OC: OD: OE: F: $203,108 $270,134 $359,278 $477,839 $635,526 $845,250 Submit Answer Tries 0/99 7. What was total owners' equity on December 31, 2021? A: OB: OC: OD: OE: OF: $310,577 $450,337 $652,989 $946,834 $1,372,909 $1,990, s2.lite.msu.edu - Private: