An analysis of the transactions made by Cullumber & Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $750 for rent, $4,000 for salaries and wages, and $660 for utilities. Accounts Receivable Cash + + Supplies Accounts Payable Owner's Capital + Equipment Owner's Drawings + + Rever +$15.800 +$15.800 -3,300 +$5,500 +$2.200 -650 +$650 +4.900 +$2,600 +57 -1.000 - 1.000 -2.900 -$2.900 -750 -75 E + Supplies + Equipment Payable + Capital Drawings + Revenues Expenses +$15,800 +$5,500 +$2,200 +$650 +$7,500 -1.000 -$2.900 -$750 4,000 +660 660 (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 $