Questions 4, 5, and 6 refer to the following balance sheet and transactions:web: and prepares monthly financial statements. The following is its balance sheet at the X Company is a merd beginning of July Balance Sheet July 1 Assets Cash Accounts Receivable Inventory Prepaid Rent Equipment Total Assets Equities $55,828 32,198 $52,208 Accounts Payable 30,360 Notes Payable 83,189 213,450 70,495 8371,971 5,083 Paid-In Capital 201,131 Retained Earnings 371,971 Total Equities The following summary transactions occurred during July: 1. Sold stock to investors for $40,000. 2. Borrowed $30,000 from a bank and paid off a $13,000 bank loan. 3. Bought $8,953 of merchandise from suppliers, paying $3,759 and promising to pay the rest in August 4. Bought equipment for $40,000 from a manufacturer, paying $4,300 and promising to pay the rest in Septeml 5. Paid $3,766 to suppliers that it bought merchandise from in June. 6. Sold merchandise, receiving $17,647 cash and promises from customers to pay $4,753; the merchandise tha cost $11,200 and was purchased earlier in July. 7. Paid $569 for rent in advance. 8. Received $3,458 from customers who purchased merchandise last month. 9. Paid wages and other miscellaneous expenses totaling $5,370. Note: Ignore adjusting entries. 8 pts. What was the cash balance on July 317 4. AO$99,601 BO$112,549 $127,180 DO S143,714 EO 162,397 FO $183,508 8 pt s. What were total equities on July 31? 5. AO $471,929 BO $589,911 CO s737,389 DO $921,736 EO $1,152,170 FO $1,440,213 6. What was Net Income in July? AO s5,830 BOS6588 $7,444 DO$8,412 6. EO s9,506 FO$10,741