The following balance sheet is for X Company:

Assets

Cash

Accounts Receivable

Inventory

Prepaid Rent

Equipment

Total Assets

Balance Sheet

January 1, 2021

look at the photo please

The following balance sheet is for X Company: Assets Cash Accounts Receivable Inventory Prepaid Rent Equipment Total Assets Balance Sheet January 1, 2021 Equities $95,089 Accounts Payable 14,549 Wages Payable 159,661 Notes Payable 5,768 Paid-In Capital 323,131 Retained Earnings $598,198 Total Equities $224,902 1,358 31,764 276,840 63,334 $598,198 The following summary transactions occurred during 2021: borrowed $4,921 from the bank paid $29,800 for advertising sold merchandise for $422,820 on account and $281,880 for cash; the merchandise cost $373,491 agreed to a four-year rental lease for $10,000 and paid $2,500 in advance received $8,482 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? Submit Answer Tries 0/3 7. What were total liabilities on December 31, 2021