X Company, a merchandiser, started business on June 1. The following were June transactions: Received $94,000 from a group of investors. Bought $8,615 of merchandise, $3,715 for cash and $4,900 on account. Sold merchandise for $22,000, of which $17,084 was for cash and $4,916 was on account; Cost of Goods Sold was 58% of sales. Paid $3,813 to suppliers for merchandise previously bought on account. Paid wages of $5,970. Collected $2,606 from customers on account. Paid $5,900 for rent in advance. 4. What was the balance in the cash account on June 30? 5. What were total assets on June 30? 6. What was net income in June?