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

Received $92,000 from a group of investors.

Bought $8,812 of merchandise, $3,347 for cash and $5,465 on account.

Sold merchandise for $22,500, of which $18,092 was for cash and $4,408 was on account; Cost of Goods Sold was 51% of sales.

Paid $3,524 to suppliers for merchandise previously bought on account.

Paid wages of $5,020.

Collected $2,633 from customers on account.

Paid $5,100 for rent in advance.

4. What was the balance in the cash account on June 30?

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5. What were total equities on June 30?

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6. What was net income in June [ignore adusting entries]?

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