s 4 and 5 refer to the following information The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash $88,055 Accounts Payable $245,101 Accounts Receivable 11,302 Wages Payable 1,346 Inventory 153,755 Notes Payable Prepaid Rent 5,865 Paid-In Capital 34,392 262,138 Equipment Total Assets 344,453 $603,430 Retained Earnings Total Equities 60,453 $603,430 The following summary transactions occurred during 2021: borrowed $4,019 from the bank purchased $326,634 of merchandise on account and $168,266 for cash sold merchandise for $491,004 on account and $220,596 for cash; the merchandise cost $384,264 paid $5,230 for land and equipment received $249,212 from customers for merchandise previously sold on account Note: For the questions below, ignore adjusting entries on December 31, 2021. 4. What was the cash balance on December 31, 2021? A: $267,852 B: $388,386 OC: $563,160 D: $816,582 E: $1,184,043 F: $1,716,863 Submit Answer Tries 0/99 5. What was total owners' equity on December 31, 2021? A: $156,173 B: $207,710 C: $276,255 D: $367,419 E: $488,667 F: $649,927