s 6 and 7 refer to the following information The following balance sheet is for X Company: Assets Cash Accounts Receivable Inventory Prepaid Rent Equipment Total Assets The following summary transactions occurred during 2021: paid $81,789 to suppliers for merchandise previously purchased on account purchased $297,528 of merchandise on account and $153,272 for cash sold merchandise for $450,009 on account and $264,291 for cash; the merchandise cost $385,722 agreed to a five-year rental lease for $10,000 and paid $2,000 in advance received $245,515 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? A: $1,146,309 OB: $1,432,886 OC: $1,791,108 D: $2,238,885 E: $2,798,606 OF: $3,498,257 Submit Answer Tries 0/99 7. What was total owners' equity on December 31, 2021? A: $208,046 B: $276,701 C: $368,012 D: $489,456 E: $650,976 F: $865,798 Submit Answer Tries 0/99 Balance Sheet January 1, 2021 Equities $86,880 12,461 Accounts Payable Wages Payable 155,743 Notes Payable 5,195 341,713 $601,992 Paid-In Capital Total Equities $246,707 1,029 31,858 249,350 Retained Earnings 73,048 $601,992