X Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $87,000 from a group of investors. 2. Bought $8,879 of merchandise, $3,954 for cash and $4,925 on account. 3. Sold merchandise for $20,000, of which $15,808 was for cash and $4,192 was on account; Cost of Goods Sold was 53% of sales. 4. Paid $3,376 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,630. 6. Collected $2,966 from customers on account. 7. Paid $5,600 for rent in advance. 4. What were total liabilities on June 30? Tries 0/99 5. What were total equities on June 30 ? Tries 0/99 6. What was net income in June [ignore adusting entries]