The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash $91,546 Accounts Payable Accounts Receivable 12,231 Wages Payable Inventory 150,305 Notes Payable Prepaid Rent 5,286 Paid-In Capital Equipment Total Assets 335,746 $595,114 Retained Earnings Total Equities The following summary transactions occurred during 2021: borrowed $4,859 from the bank paid $22,900 for advertising sold merchandise for $482,868 on account and $227,232 for cash; the merchandise cost $411,858 paid $5,793 for land and equipment received $230,242 from customers for merchandise previously sold on account Note: For the questions below, ignore adjusting entries on December 31, 2021. 4. What was the cash balance on December 31, 2021? A: $362,197||B: $525,186 OC: $761,520 OD: $1,104,204 E: $1,601,095 OF: $2,321,588 Submit Answer Tries 0/99 5. What were total liabilities on December 31, 2021? OA: $88,174 OB: $117,272 OC: $155,972 OD: $207,442 OE: $275,898 OF: $366,944 Submit Answer Tries 0/99 $237,383 1,002 32,654 254,192 69,883 $595,114