An analysis of the transactions made by Arthur Cooper & Co., a certified public accounting firm, for the month of August is shown below. the expenses were $700 for rent, $4, 900 for salaries and wages, and $400 for utilities. Assume that August is the company's first month of business. Prepare an income statement for August 31, 2017. Prepare an owner's equity statement for August 31, 2017. (List items that increase owner's equity first.) Prepare a balance sheet at August 31, 2017. (List Assets in order of liquidity.)