Accounting Cycle Review E 0-4 A tabular analysis of the transactions made during August 2017 by Cullumber Company during its first month of operations is shown below. Each increase and decrease in stockholders equity is explained. Assets = Liabilities + Stockholders Equity Cash + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Retained Earnings Revenues Expenses Dividends (1) $21,400 $21,400 Com. Stock (2) 1,500 $5,100 $3,600 (3) 800 $800 (4) 4,100 $6,400 $10,500 Serv. Rev. (5) 2,000 2,000 (6) 1,600 $1,600 Div. (7) 850 $850 Rent Exp. (8) 530 530 (9) 2,500 2,500 Salar. Exp. (10) 320 320 Util. Exp. (b) Determine how much stockholders equity increased for the month. Increase in stockholders equity $ (c) Compute the net income for the month.