X Company, a manufacturer, prepares monthly financial statements. On May 1, total equities were $119,767. The following transactions occurred during May:

• Issued additional shares of stock for $115,000.
• Acquired $8,400 of direct materials, $3,696 of it paid for with cash, the rest bought on open account.
• A one year rental agreement was signed for $7,100 per month. Rent for the first three months was paid in advance.
• Product sales were $120,000, $23,525 of which were on account; the rest were cash sales. Product costs were $86,400.
• Paid wages and salaries of $11,774.
• Paid $23,861 to suppliers for materials that X Company had previously purchased on account.
• Collected $23,525 from customers who had previously purchased products from X Company on account.

What would total equities be on May 31?