The following balance sheet is for X Company: Balance Sheet January 1, 2021 Equities Accounts Payable $228,060 1,392 32,115 254,330 Assets Cash $86,045 Accounts Receivable 13,927 Wages Payable Inventory 156,716 Notes Payable Prepaid Rent 5,908 Paid-In Capital Equipment Total Assets 321,145 $583,741 Retained Earnings Total Equities The following summary transactions occurred during 2021: paid $83,653 to suppliers for merchandise previously purchased on account purchased $288,835 of merchandise on account and $184,665 for cash sold merchandise for $475,002 on account and $244,698 for cash; the merchandise cost $374,244 agreed to a five-year rental lease for $8,000 and paid $1,600 in advance received $230,318 from customers for merchandise previously sold on account Note: For the questions below, ignore adjusting entries on December 31, 2021. 6. What were total equities on December 31, 2021? A: $605,361 Submit Answer F: $1,327,223 B: $708,273 C: $828,679 OD: $969,555 E: $1,134,379 Answer Submitted: Your final submission will be graded after the due date. Tries 1/99 Previous Tries 7. What was total owners' equity on December 31, 2021? A: $317,541 B: $460,434 OC: $667,630 D: $968,064 E: $1,403,692 F: $2,035,354 Submit Answer Answer Submitted: Your final submission will be graded after the due date. Tries 2/99 Previous Tries 67,844 $583,741