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Questions 4, 5, and 6 refer to the following information X Company is a merchandiser and prepares monthly financial statements. The following is its balance

Questions 4, 5, and 6 refer to the following information X Company is a merchandiser and prepares monthly financial statements. The following is its balance sheet at the beginning of January:

Balance Sheet
January 1
Assets Equities
Cash $53,608 Accounts Payable $51,480
Accounts Receivable 33,013 Wages Payable 1,485
Inventory 84,951 Notes Payable 34,230
Prepaid Rent 5,346 Paid-In Capital 232,461
Equipment 205,801 Retained Earnings 63,063
Total Assets $382,719 Total Equities $382,719

The following summary transactions occurred during January:

Sold stock to investors for $45,000.

Borrowed $21,000 from a bank.

Bought merchandise from suppliers, paying $3,062 and promising to pay $5,475 next month.

Bought equipment from a manufacturer, paying $31,700 and promising to pay $4,700 in three months.

Paid $3,860 to merchandise suppliers that it had promised to pay.

Sold merchandise, receiving $15,346 cash and promises to pay of $4,714; the merchandise that was sold previously cost $10,030.

Paid a total of $575 for rent and insurance in advance.

Received $3,379 from customers who had promised to pay.

Paid $5,680 for wages, utilties, and other miscellaneous expenses.

5. What were total equities on January 31?

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