An analysis of the transactions made by Crane \& Co., certifed public accounting firm for the month of August is shown as follows The expenses were $700 for rent, $5,200 for salaries and wages, and $370 tor utilities (b) Determine how much owner's equity increased for the month An analysis of the transactions made by Crane &CO4 a certified public accounting firm, for the month of August is shown as follows The expenses were $700 for rent. $5,200 for salaries and wages, and $370 for utilities Determine how much owner's equity increased for the month. Determine how much owmer's equity increased for the month. Net increase in owner's equity (c) Compute the amount of net income for the month. Net income