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

1. Received $8,993 from new owners. 2. Purchased $8,943 worth of merchandise on account from suppliers. 3. Sold merchandise on account to customers for $10,337; the merchandise cost X Company $7,236. 4. Paid $3,506 to suppliers for merchandise that X Company had previously purchased on account. 5. Collected $3,695 from customers who had previously purchased merchandise on account. 6. Bought equipment for $9,721 with a down payment of $5,036 and a $4,685 loan from the bank. 7. Paid wages of $1,157. 8. Recognized the expiration of $569 of prepaid rent.

If total equities at the beginning of the year were $12,048, what were total equities at the end of the year?

A: $13,830

B: $18,395

C: $24,465

D: $32,538

E: $43,276

F: $57,557