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 $600 for rent, $4,000 for salaries and wages, and $530 for utilities. Cash Accounts + Receivable + Supplies + Equipment = Accounts Owner's Owner's Payable + Capital - Drawings + Rever +$15.900 1. +$15.900 2. -2,100 +$4,600 +$2,500 3. -700 +$700 4 +4,800 +$3,800 +$8 5. -1,300 - 1,300 6. - 1,600 -$1,600 7. -600 8. +550 -550 9. -4,000 10. +530 (b) Determine how much owner's equity increased for the month. Net increase in owner's equity $ TA (c) Compute the amount of net income for the month. Net income $ 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 $600 for rent, $4.000 for salaries and wages, and $530 for utilities. Accounts Accounts Owner's Owner's Receivable + Supplies + Equipment = Payable + Capital - Drawings + Revenues - Expenses +$15,900 +$4,600 +$2,500 +$700 +$3,800 +$8,600 -1,300 -$1,600 -$600 -550 -4,000 +530 -530 (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 $