X Company, a merchandiser, started business on June 1. The following were June transactions:

Received $99,000 from a group of investors.

Bought $8,877 of merchandise, $3,947 for cash and $4,930 on account.

Sold merchandise for $20,000, of which $15,259 was for cash and $4,741 was on account; Cost of Goods Sold was 54% of sales.

Paid $3,440 to suppliers for merchandise previously bought on account.

Paid wages of $5,890.

Collected $2,698 from customers on account.

Paid $5,300 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?