POGO, a merchandiser, started business on May 1. The following were May transactions:

Received $92,000 from group of investors.

Bought $8,398 of merchandise, $3,582 for cash and $4,816 on account.

Sold merchandise for $20,500, which $16,319 was for cash and $4,181 was on account; Cost of Goods Sold was 58% of sales.

Paid $3,538 to suppliers for merchandise previously bought on account.

Paid wages of $5,570.

Collected $2,968 from customers on account.

Paid $5,500 for rent in advance.

1. What was the balance in the cash account on May 30?

2. What were total assets on May 30?

3.What was net income in May [ignore adusting entries]?