X Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $98,000 from a group of investors. 2. Bought $8,662 of merchandise, $3,273 for cash and $5,389 on account. 3. Sold merchandise for $22,200, of which $17,596 was for cash and $4,604 was on account; Cost of Goods Sold was 55% of sales. 4. Paid $3,119 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,940. 6. Collected $2,929 from customers on account. 7. Paid $5,500 for rent in advance. 4. What was the balance in the cash account on June 30 ? Tries 0/99 5. What were total equities on June 30 ? \begin{tabular}{|l|l|l|} \hline & D: $81,698 & F:$104,320 \\ \hline \end{tabular} Tries 0/99 6. What was net income in June [ignore adusting entries]