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X company a merchandiser prepares annual financial

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X Company, a merchandiser, prepares annual financial statements. During the year, the company had the following transactions:

  1. Bought $8,627 of merchandise, $3,654 for cash and $4,973 on account.
  2. Bought equipment costing $10,058, paying cash of $5,984, and borrowing $4,074 from the bank.
  3. Sold merchandise for $12,085, of which $7,253 was for cash; cost of the merchandise was $8,460.
  4. Paid $3,230 to suppliers for merchandise previously bought on account.
  5. Collected $2,584 from customers on account.
  6. Paid wages of $5,380.
  7. Prepaid rent of $534.

If total equities at the beginning of the year were $11,380, what were total equities at the end of the year?

Reference no: EM13573208

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