The following balance sheet is for X Company: Balance Sheet January 1, 2021 Equities Assets Cash $88,612 Accounts Payable Accounts Receivable 12,686 Wages Payable $227,071 1,167 Inventory 158,404 Notes Payable Prepaid Rent 5,479 Paid-In Capital 31,859 262,316 Equipment Total Assets 329,606 $594,787 Retained Earnings Total Equities 72,374 $594,787 The following summary transactions occurred during 2021: paid $86,628 to suppliers for merchandise previously purchased on account purchased $302,374 of merchandise on account and $185,326 for cash sold merchandise for $498,387 on account and $223,913 for cash; the merchandise cost $390,042 paid $5,135 for land and equipment received $248,221 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: $274,605 OB: $365,225 OC: $485,749 OD: $646,046 OE: $859,241 OF: $1,142,791 Submit Answer Answer Submitted: Your final submission will be graded after the due date. Tries 1/99 Previous Tries 5. What was total owners' equity on December 31, 2021? A: $459,964 B: $666,948 OC: $967,075 OD: $1,402,258 E: $2,033,274 F: $2,948,248