The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash Accounts $90,240 $249,691 Payable Accounts 13,815 Wages 1,458 Receivable Payable Notes Inventory 154,051 32,275 Payable Prepaid Paid-In 5,387 230,101 Rent Capital Retained Equipment 317,735 67,703 Earnings Total Total $581,228 $581,228 Assets Equities The following summary transactions occurred during 2021: borrowed $4,699 from the bank paid $29,520 for advertising sold merchandise for $480,055 on account and $236,445 for cash; the merchandise cost $422,735 paid $5,752 for land and equipment received $8,470 in cash contributions from new owners Note: For the questions below, ignore adjusting entries on December 31, 2021. 4. What was the cash balance on December 31, 2021? A: OB: OC: D: OE: OF: $260,326 $304,582 $356,361 $416,942 $487,822 $570,752 Submit Answer Tries 0/99 5. What were total liabilities on December 31, 2021? OB: OC: OD: OE: OA: OF: $254,976 $288,123 $325,579 $367,904 $415,732 $469,777