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  1. business
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  3. x company, a manufacturer, prepares monthly financ

X Company, a manufacturer, prepares monthly financial statements. On January 1, total assets were $115,463....

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X Company, a manufacturer, prepares monthly financial statements. On January 1, total assets were $115,463. The following transactions occurred during January: Issued additional shares of stock for $118,000. Acquired $8,200 of direct materials, $4,018 of it paid for with cash, the rest bought on open account. A one year rental agreement was signed for $7,700 per month. Rent for the first three months was paid in advance. Product sales were $112,000, $23,474 of which were on account; the rest were cash sales. Product costs were $70,560. Paid wages and salaries of $11,517. Paid $23,505 to suppliers for materials that X Company had previously purchased on account. Collected $23,474 from customers who had previously purchased products from X Company on account. What would total assets be on January 31? [Ignore adjusting entries.]

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