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

Received $93,000 from a group of investors.

Bought $8,619 of merchandise, $3,003 for cash and $5,616 on account.

Sold merchandise for $20,600, of which $16,120 was for cash and $4,480 was on account; Cost of Goods Sold was 51% of sales.

Paid $3,040 to suppliers for merchandise previously bought on account.

Paid wages of $5,130.

Collected $2,685 from customers on account.

Paid $5,300 for rent in advance.

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

A: $66,070

B: $74,659

C: $84,365

D: $95,332

E: $107,725

F: $121,729

Tries 0/99

5. What were total equities on June 30?

A: $88,973

B: $100,540

C: $113,610

D: $128,380

E: $145,069

F: $163,928

Tries 0/99

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

A: $4,243

B: $4,964

C: $5,808

D: $6,795

E: $7,950

F: $9,302

Please help! Thank you so much!