The following balance sheet is for X Company: The following summary transactions occurred during 2015: borrowed $4, 291 from the bank paid $85, 221 to suppliers for merchandise purchased on account paid for $59, 050 of advertising purchased $240, 894 of merchandise on account and $205, 206 for cash sold merchandise for $507, 600 on account and $197, 400 for cash; the merchandise cost $373, 650 signed a five-year rental lease for $10,000; paid for one year in advance paid $5, 501 for land and equipment received $242, 650 from customers for merchandise sold on account received $8, 134 in cash contributions from new owners What was the cash balance on December 31, 2015? What were total assets on December 31, 2015? What were total liabilities on December 31, 2015? What was net income in 2015