5. X Company, a merchandiser, started business on June 1. The following were June transactions:

Received $85,000 from a group of investors.

Bought $8,217 of merchandise, $3,937 for cash and $4,280 on account.

Sold merchandise for $20,500, of which $16,085 was for cash and $4,415 was on account; Cost of Goods Sold was 52% of sales.

Paid $3,510 to suppliers for merchandise previously bought on account.

Paid wages of $5,100.

Collected $2,875 from customers on account.

Paid $5,700 for rent in advance.

5. What were total equities on June 30?