X Company, a merchandising company, had the following transactions during the year: 1. Received $8,767 from new owners. 2. Purchased $8,415 worth of merchandise on account from suppliers. 3. Sold merchandise on account to customers for $10,665; the merchandise cost X Company $7,465. 4. Paid $3,102 to suppliers for merchandise that X Company had previously purchased on account. 5. Collected $3,259 from customers who had previously purchased merchandise on account. 6. Bought equipment for $10,251 with a down payment of $5,306 and a $4,945 loan from the bank. 7. Paid wages of $1,140. 8. Recognized the expiration of $520 of prepaid rent. If total equities at the beginning of the year were $10,878, what were total equities at the end of the year? A: $24,624 B: $27,825 OC: $31,442 D: $35,530 E: $40,149 OF: $45,368 Submit Answer Tries 0/99