An analysis of the transactions made by Pharoah & Co, a certified public accounting firm.for the month of August is shown as follows The expenses were $550 for rent. $5,700 for salaries and wages, and $450 for utilities. Accounts + Receivable + Supplies Owner's Capital Cash Accounts Payable Owner's Drawings + Equipment + Revenue - Apenses 1 -$15,500 +$15,500 2 -900 $4,400 +$3,500 3. - 750 +5750 +58200 4 +4.700 +$3,500 5. - 1.500 - 1.500 - $1,000 6 - 1,000 7 -550 550 8 400 -400 -5700 9. -5.700 d +450 -450 10 JO 15 (b) Determine how much owner's equity increased for the month. 0 Net increase in owner's equity (6) compute the amount of not income for the month Met income &