The following balance sheet is for X Company: Balance Sheet January 1, 2021 Equities Accounts Payable Assets Cash $91,545 Accounts Receivable 12,709 Wages Payable Inventory 157,279 Notes Payable Prepaid Rent 6,168 Paid-In Capital Equipment Total Assets 303,126 $570,827 Total Equities Retained Earnings $232,190 1,202 30,150 246,998 60,287 $570,827 The following summary transactions occurred during 2021: paid $89,432 to suppliers for merchandise previously purchased on account purchased $275,838 of merchandise on account and $169,062 for cash sold merchandise for $466,620 on account and $240,380 for cash; the merchandise cost $367,640 paid $5,703 for land and equipment received $241,447 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? Submit Answer Tries 0/3 7. What was total owners' equity on December 31, 2021? Submit Answer Tries 0/3