Questions 4, 5, and 6 refer to the following balance sheet and transactions:web> X Compay is a merchandiser and prepares monthly financial statements. The following is it sheet at the beginning of July July 1 Assets Cash Accounts Receivable Inventory Prepaid Rent Equipment Total Assets uities 858,518 33,585 50,621 Accounts Payable 31,995 Notes Payable 78,738 5,964 Paid-In Capital 214,775 Retained Earning 221,091 68,899 $382,093 382,093 Total Equities The following summary transactions occurred during July 1. Sold stock to investors for $42,000. 2. Borrowed $30,000 from a bank and paid off a $13,000 bank loan 3. Bought $8,118 of merchandise from suppliers, paying $3,212 and promising to pay the rest in Augst 4. Bought equipnent for $44,600 from a manufacturer, paying $5,000 and promising to pay the rest in September 5. Paid $3,574 to suppliers that it bought merchandise from in June 6. Sold merchandise, recelving $15.959 cash and promises from customers to pay $4,411, the merchaie that wa cost $10,185 and was purchased earlier in July 7. Paid $582 for rent in advance. 8. Received $2,997 from customers who purchased merchandise last month. 9. Paid wages and other miscellaneous expenses totaling $5,320. Note: Ignore adjusting entries What was the cash balance on July 317 p EOSi77,00i FOS207,790 DO sis1,7% c0 $129,740 BO suos89 AO s94,777 4. 8 pt s. What were total equities on July 317 5. AO $366,083 BO $486,890 CO $647,564 FO S1,523,482 EO S1,145,475 DO $861,260 Spts. What was Net Income in July 6. AO S1,169 BO $1,55 CO $2068 DO $2,750 EO 3,658 FO $4,865