X Company, a manufacturer, prepares monthly financial statements. On January 1, total assets were $117,927. The following transactions occurred during January: . Issued additional shares of stock for $110,000. Acquired $9,000 of direct materials, $3,960 of it paid for with cash, the rest bought on open account. A one year rental agreement was signed for $5,200 per month. Rent for the first two months was paid in advance. Product sales were $100,000, $23,038 of which were cash sales; the rest were on account. Product costs were $70,000. Paid wages and salaries of $11,798. Paid $23,038 to suppliers for materials that X Company had previously purchased on account. Collected $23,354 from customers who had previously purchased products from X Company on account. . What would total assets be on January 31? [Ignore adjusting entries.] A: $72,908 C: $128,968| OD: $171,527|| OE: $228,131|| OF: $303,414 B: $96,968 Tries 0/99 Submit