X Company started business on April 1 and prepares monthly financial statements. In April, the company

• received $43,000 from a group of investors,
• bought $8,204 of merchandise, $4,383 on account and $3,821 for cash,
• sold merchandise for $40,000, of which $35,399 were for cash and $4,601 were on account; the cost of the merchandise that was sold was $21,600,
• paid $3,638 to suppliers for merchandise previously bought on account,
• collected $2,784 from customers on account, and
• paid expenses totalling $6,391.

4. What were total assets on April 30?

5. What was Net Income in April?