X Company, a manufacturer, prepares monthly financial statements. On May 1, total assets were $119,235. The following transactions occurred during May:

• Issued additional shares of stock for $101,000.
• Acquired $8,800 of direct materials, $4,928 of it bought on open account, the rest paid for with cash.
• A one year rental agreement was signed for $6,500 per month. Rent for the first three months was paid in advance.
• Product sales were $104,000, $23,666 of which were on account; the rest were cash sales. Product costs were $79,040.
• Paid wages and salaries of $10,325.
• Paid $23,838 to suppliers for materials that X Company had previously purchased on account.
• Collected $23,666 from customers who had previously purchased products from X Company on account.

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