Company, a manufacturer, prepares monthly financial statements. On January 1, total assets were $115,366. he following transactions occurred during January: Issued additional shares of stock for $113,000. Acquired $8,700 of direct materials, 56% of of which was acquired on open accounts; the rest was paid in cash. A one year rental agreement was signed for $7,100 per month. Rent for the first two months was paid in advance. Product sales were $125,000; product costs were 60% of sales. 74% of the sales were on open account. Wages and salaries amounted to $10,957, of which $10,112 was paid. Paid $3,391 to suppliers for materials that X Company had previously purchased on account. Collected $3,968 from customers who had previously purchased products from X Company on account. Bought equipment for $81,300 with a down payment of $17,600 and a $63,700 loan from the bank. . . What would total assets be on January 31? [Ignore adjusting entries.] * Tries 0/3 What would Net Income be for January? [Ignore adjusting entries.] La Tries 0/3