Questions 6 and 7 refer to the following information The following balance sheet is for X Company: Assets Balance Sheet January 1, 2021 Equities Accounts Payable $213,873 1,458 34,271 288,638 Cash $95,217 Accounts Receivable 11,259 Wages Payable Inventory 151,704 Notes Payable Prepaid Rent 5,574 Paid-In Capital Equipment Total Assets 337,420 $601,174 Retained Earnings Total Equities The following summary transactions occurred during 2021: paid $80,810 to suppliers for merchandise previously purchased on account paid $22,120 for advertising sold merchandise for $442,246 on account and $271,054 for cash; the merchandise cost $413,714 agreed to a five-year rental lease for $10,000 and paid $2,000 in advance received $209,880 from customers for merchandise previously sold on account Note: For the questions below, ignore adjusting entries on December 31, 2021. 6. What were total equities on December 31, 2021? 62,934 $601,174