X Company, a merchandising company, had the following transactions during the year:

1. Received $8,880 in cash contributions from the owners. 2. Purchased $8,942 worth of merchandise on account from suppliers. 3. Sold merchandise on account to customers for $11,407; the merchandise cost X Company $7,985. 4. Paid $3,043 to suppliers for merchandise that X Company had previously purchased on account. 5. Collected $3,482 from customers who had previously purchased merchandise on account. 6. Bought equipment for $10,456 with a down payment of $5,769 and a $4,687 loan from the bank. 7. Paid wages of $1,199. 8. Recognized the expiration of $563 of prepaid rent.

If total assets at the beginning of the year were $11,452, what were total assets at the end of the year?