alyze transactions and pute net income 4) n analysis of the transactions made by Arthur Cooper & Co., a certified public irm, for the month of August is shown below. The expenses were $650 for rent, 1-8 A $4,800 for salaries and wages, and $400 for utilities. Accounts Accounts Owner's Owner's Expenses Cash + Receivable + Surlies + Equipment . Payable+ Capital -Drawings + kevenues +$15,000 -2,000 -750 +$15,000 +$5,000+$3,000 +4,600+$3,900 +$8,500 -1,500 -2,000 -650 1,500 -$2,000 -$650 +450450 -4,800 -400 -4,800 +400 Instructions (a)Describe each transaction that occurred for the month. (b) Determine how much owner's equity increased for the month. (c) Compute the amount of net income for the month