An analysis of the transactions made by Peat Deloitte & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $560 for rent, $4,800 for salaries and wages, and $400 for utilities. Cash + Accounts Receivable + Supplies + Equipment = Accounts Payable + Owners Capital Owners Drawings + Revenues Expenses 1. +$15,000 +$15,000 2. 2,000 +$5,000 +$3,000 3. 750 +$750 4. +4,000 +$4,500 +$8,500 5. 1,500 1,500 6. 2,000 $2,000 7. 560 $560 8. +450 450 9. 4,800 4,800 10. +400 400 (b) Determine how much owners equity increased for the month. Net increase in owners equity $ (c) Compute the amount of net income for the month. Net income $