X Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $100,000 from a group of investors. 2. Bought $8,211 of merchandise, $3,494 for cash and $4,717 on account. 3. Sold merchandise for $21,900, of which $17,225 was for cash and $4,675 was on account; Cost of Goods Sold was 57% of sales. 4. Paid $3,937 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,430. 6. Collected $2,731 from customers on account. 7. Paid $5,600 for rent in advance. 4. What were total liabilities on June 30 ? B: $690 Tries 0/99 5. What were total assets on June 30 ? 6. What was net income in June [ignore adusting entries]