An analysis of the transactions made by Peat Deloitte & Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $560 for rent, $4,800 for salaries and wages, and $400 for utilities. Accounts Receivable Accounts Payable Owner's Capital Owner's Drawings + Supplies + Equipment Revenues Expenses +$15.000 +$5,000 +$3,000 +$750 +$4,500 +$8.500 -1,500 -$2.000 -5560 -450 -4,800 +400 -400 (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 $ An analysis of the transactions made by Peat Deloitte & Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $560 for rent, $4,800 for salaries and wages, and $400 for utilities, Accounts Receivable Cash + + Supplies + Equipment Accounts Payable Owner's Capital = + Owner's Drawings Revenu 1 +$15,000 +$15.000 2 - 2,000 +$5.000 +$3,000 3 -750 +$750 4 +4,000 +$4,500 5. +$8.50 -1,500 - 1,500 6. -2.000 -$2.000 7 -560 8 +450 -450 9 -4,800 10. +400 (b) 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 5