X Company, a merchandiser, had the following transactions in August: Borrowed $25,000 from a bank. Bought equipment costing $10,600, paying the manufacturer $5,900 in cash and promising to pay the remaining $4,700 next month. Paid utility expenses of $5,997. Purchased a $5,000, five-year insurance policy, paying for two years in advance. Paid back a previous loan for $3,010.

8. If total equities on August 1 were $74,333, what were total equities on August 31?

A: $40,391

B: $53,720

C: $71,448

D: $95,026

E: $126,385

F: $168,091