X Company, a merchandising company, had the following transactions during 2020: . . . Received $8,419 from new owners. Purchased $8,641 worth of merchandise on account from suppliers. Sold merchandise on account to customers for $11,725; the merchandise cost X Company $8,208. Paid $3,042 to suppliers for merchandise that X Company had previously purchased on account. Collected $3,298 from customers who had previously purchased merchandise on account. Bought equipment for $10,360 with a down payment of $5,661 and a $4,699 loan from the bank. Paid wages of $1,037. Recognized the expiration of $548 of prepaid rent. . . 8. If total equities at the beginning of 2020 were $12,007, what were total equities at the end of 2020? A: $7,388 B: $10,712|| OC: $15,532 D: $22,522 E: $32,656| OF: $47,352 Submit Answer Tries 0/99 9. If total liabilities at the beginning of 2020 were $3,464, what were total liabilities at the end of 2020? A: $7,344 C: $10,053|| OD: $11,762 E: $13,762| OF: $16,102 B: $8,593 Tries 0/99 Submit Answer 10. What was Net Income in 2020? A: $437 B: $634 OC: $919|| OD: $1,333|OE: $1,932 OF: $2,802