The following balance sheet is for X Company: Assets Balance Sheet January 1, 2021 Equities Accounts Payable $225,404 1,325 30,902 272,036 Cash $95,248 Accounts Receivable 10,372 Wages Payable Inventory 152,039 Notes Payable Prepaid Rent 5,948 Paid-In Capital Equipment Total Assets 332,746 $596,353 Retained Earnings Total Equities The following summary transactions occurred during 2021: borrowed $4,965 from the bank purchased $313,299 of merchandise on account and $184,001 for cash sold merchandise for $443,176 on account and $271,624 for cash; the merchandise cost $371,696 paid $5,842 for land and equipment received $8,040 in cash contributions from new owners Note: For the questions below, ignore adjusting entries on December 31, 2021. 6. What was the cash balance on December 31, 2021? A: $148,824 B $168,172 OC: $190,034 OD: $214,738 OE: $242,654 OF: $274,199 Submit Answer Tries 0/99 7. What was total owners' equity on December 31, 20217 A: $610,501 B: $689,866 OC: $779,549 OD: $880,890 OE: $995,406 OF: $1,124,808 Submit Answer Tries 0/99 66,686 $596,353