Assets Equities Cash $83,545 Accounts Payable $224,393 Accounts Receivable 14,224 Wages Payable 1,096 Inventory 153,452 Notes Payable Prepaid Rent 6,113 Paid-In Capital Equipment Total Assets 349,329 Retained Earnings $606,663 Total Equities 33,639 279,890 67,645 $606,663 The following summary transactions occurred during 2021: borrowed $4,735 from the bank paid $29,170 for advertising sold merchandise for $448,640 on account and $252,360 for cash; the merchandise cost $378,540 paid $5,027 for land and equipment received $8,400 in cash contributions from new owners Note: For the questions below, ignore adjusting entries on December 31, 2021. What was the cash balance on December 31, 2021? Submit Answer Tries 0/3 . What were total liabilities on December 31, 2021