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: Balance Sheet January 1, 2021 Assets Cash Accounts Receivable Inventory Prepaid Rent Equipment Total Assets $95,154 10,894 152,972 6,121 348,577 $613,718 Equities Accounts Payable Wages Payable Notes Payable Paid-In Capital Retained Earnings Total Equities $209,941 1,236 31,726 305,046 65,769 $613,718 The following summary transactions occurred during 2021: paid $86,696 to suppliers for merchandise previously purchased on account . purchased $321,057 of merchandise on account and $144,243 for cash sold merchandise for $470,448 on account and $242,352 for cash; the merchandise cost $384,912 paid $5,080 for land and equipment received $219,872 from customers for merchandise previously sold on account Note: For the questions below, ignore adjusting entries on December 31, 2021. 4. What were total assets on December 31, 2021? Submit Answer Tries 0/3 5. What was total owners' equity on December 31, 2021