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An analysis of the transactions made by Crane & Co., a certified public accounting firm, for the month of August is shown as follows. The

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An analysis of the transactions made by Crane \& Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $700 for rent, $4,000 for salaries and wages, and $430 for utilities. (b) Determine how much owner's equity increased for the month. Net increase in owner's equity $ (c) Compute the amount of net income for the month. Net income $

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