X Company, a manufacturer, prepares monthly financial statements. On August 1, total assets were $116,917. The following transactions occurred during August: Issued additional shares of stock for $112,000. Acquired $8,500 of direct materials, $4,335 of it bought on open account, the rest paid for with 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 $117,000, $23,339 of which were on account; the rest were cash sales. Product costs were $86,580. Paid wages and salaries of $11,501. Paid $23,003 to suppliers for materials that X Company had previously purchased on account. Collected $23,339 from customers who had previously purchased products from X Company on account.

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

A: $35,753

B: $51,842

C: $75,171

D: $108,998

E: $158,047

F: $229,168