X Company, a manufacturer, prepares monthly financial statements. On August 1, total equities were $110,791. The following transactions occurred during August:

• Issued additional shares of stock for $118,000.
• Acquired $8,200 of direct materials, $4,592 of it bought on open account, the rest paid for with cash.
• A one year rental agreement was signed for $5,000 per month. Rent for the first three months was paid in advance.
• Product sales were $114,000, $23,689 of which were on account; the rest were cash sales. Product costs were $78,660.
• Paid wages and salaries of $11,833.
• Paid $23,457 to suppliers for materials that X Company had previously purchased on account.
• Collected $23,689 from customers who had previously purchased products from X Company on account.

What would total equities be on August 31? [Ignore adjusting entries.]

A: $161,781

B: $182,812

C: $206,578

D: $233,433

E: $263,779

F: $298,071

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