The following balance sheet is for X Company: Assets Balance Sheet January 1, 2021 Equities Cash $95,612 Accounts Payable Accounts Receivable 13,778 Wages Payable $247,527 1,297 Inventory 156,130 Notes Payable Prepaid Rent 6,224 Paid-In Capital 30,161 256,190 Equipment Total Assets 336,247 $607,991 Retained Earnings Total Equities 72,816 $607,991 The following summary transactions occurred during 2021: paid $84,267 to suppliers for merchandise previously purchased on account paid $26,570 for advertising sold merchandise for $450,688 on account and $253,512 for cash; the merchandise cost $401,394 agreed to a four-year rental lease for $10,000 and paid $2,500 in advance received $219,198 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? Submit Answer Tries 0/3 7. What were total liabilities on December 31, 2021?