X Company, a manufacturer, prepares monthly financial statements. On August 1, total equities were $114,193. The following transactions occurred during August: . . Issued additional shares of stock for $108,000. Acquired $8,100 of direct materials, $4,131 of it bought on open account, the rest paid for with cash. A one year rental agreement was signed for $6,600 per month. Rent for the first two months was paid in advance. Product sales were $117,000, $23,528 of which were on account; the rest were cash sales. Product costs were $91,260 Paid wages and salaries of $11,274. Paid $23,302 to suppliers for materials that X Company had previously purchased on account. Collected $23,528 from customers who had previously purchased products from X Company on account. What would total equities be on August 31? [ignore adjusting entries.] A: $163,525 OB: $217,488 OC: $289,259 D: $384,715 OE: $511,670 OF: $680,522 Submit Answer Tries 0/99 Send Feedback Communication Blocked