X Company, a merchandiser, started business on June 1. The following were June transactions: 1. Received $99,000 from a group of investors. 2. Bought $8,305 of merchandise, $3,813 for cash and $4,492 on account. 3. Sold merchandise for $20,300, of which $15,593 was for cash and $4,707 was on account; Cost of Goods Sold was 57% of sales. 4. Paid $3,098 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,650. 6. Collected $2,500 from customers on account. 7. Paid $5,400 for rent in advance. 4. What were total liabilities on June 30? Submit Answer Tries 0/3 5. What were total equities on June 30? Submit Answer Tries 0/3 6. What was net income in June [ignore adusting entries]? Submit Answer Tries 0/3