The following balance sheet is for X Company: Balance Sheet January 1, 2021 Equities Accounts Payable Assets Cash $81,388 Accounts Receivable 13,386 Wages Payable Inventory 154,819 Notes Payable Prepaid Rent 5,203 Paid-In Capital Equipment Total Assets 342,193 $596,989 Total Equities Retained Earnings $216,479 1,051 31,512 278,502 69,445 $596,989 The following summary transactions occurred during 2021: paid $89,257 to suppliers for merchandise previously purchased on account paid $29,680 for advertising sold merchandise for $432,600 on account and $288,400 for cash; the merchandise cost $396,550 paid $5,590 for land and equipment received $245,899 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? A: $125,201 B: $181,541 OC: $263,234 OD: $381,689 OE: $553,450 OF: $802,502 Submit Answer Tries 0/99 5. What were total liabilities on December 31, 2021? A: $81,810 B: $102,262 OC: $127,828|| D: $159,785 E: $199,731 F: $249,664 Submit Answer Tries 0/99