X Company, a merchandiser, had the following transactions in August:

-Borrowed $30,000 from a bank.

-Bought equipment costing $10,000, paying the manufacturer $6,000 in cash and promising to pay the remaining $4,000 next month.

-Paid utility expenses of $5,805.

-Purchased a $5,000, five-year insurance policy, paying for three years in advance.

-Paid back a previous loan for $3,020.

1. If total liabilities on August 1 were $33,142, what were total liabilities on August 31?

A: 64,122 B: 85,282 C: 113,425 D: 150,856 E: 200,638 F: 266,849

2. If total assets on August 1 were $71,098, what were total assets on August 31?

A: 49,292 B: 61,615 C: 77,018 D: 96,273 E: 120,341 F: 150,427