Assets Cash $91,355 Balance Sheet January 1, 2021 Equities Accounts Payable $236,800 Accounts Receivable 12,676 Wages Payable 1,226 Inventory 152,823 Notes Payable Prepaid Rent 5,464 Paid-In Capital 30,383 253,995 327,866 Retained Earnings 67,780 $590,184 Total Equities $590,184 Equipment Total Assets The following summary transactions occurred during 2021:1 paid $89,786 to suppliers for merchandise previously purchased on account purchased $274,097 of merchandise on account and $135,003 for cash sold merchandise for $460,928 on account and $259,272 for cash; the merchandise cost $381,706 agreed to a five-year rental lease for $8,000 and paid $1,600 in advance received $212,498 from customers for merchandise previously sold on account Note: For the questions below, ignore adjusting entries on December 31, 2021. 6. What were total equities on December 31, 2021? A: $1,112,989B: $1,391,236 C $1,739,045 D: $2,173,807 OE: $2,717,258 OF: $3,396,573 Submit Answer Tries 0/99 7. What was total owners' equity on December 31, 2021? OA: $352,353 B: $412,253 OC: $482,335 OD: $564,332 E: $660,269 F: $772,515