X Company, a manufacturer, prepares monthly financial statements. On January 1, total assets were $117,527. The following transactions occurred during January:

• Issued additional shares of stock for $104,000.
• 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 $5,300 per month. Rent for the first two months was paid in advance.
• Product sales were $105,000, $23,096 of which were cash sales; the rest were on account. Product costs were $77,700.
• Paid wages and salaries of $11,592.
• Paid $23,096 to suppliers for materials that X Company had previously purchased on account.
• Collected $23,578 from customers who had previously purchased products from X Company on account.

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

A: $99,766

B: $116,726

C: $136,569

D: $159,786

E: $186,950

F: $218,731

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