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

Received $96,000 from a group of investors.

Bought $8,703 of merchandise, $3,803 for cash and $4,900 on account.

Sold merchandise for $20,500, of which $16,416 was for cash and $4,084 was on account; Cost of Goods Sold was 52% of sales.

Paid $3,713 to suppliers for merchandise previously bought on account.

Paid wages of $5,760.

Collected $2,574 from customers on account.

Paid $5,500 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?