An analysis of the transactions made by Sheridan Company, a certified public accounting firm, for the month of August is as follows. Each increase and decrease in stockholders' equity is explained. Assets Liabilities Stockholders' Equity Retained Earnings Accounts Equipment = Payable + Common Stock + Revenues Expenses Dividends +$15,000 +$7,700 -1,700 Accounts Cash + Receivable + Supplies + 1. +$15,000 2. -1,500 +$4,500 +$3,000 3. -700 +$700 4. +4,100 +$3,600 5. -1,700 6. -1,600 7. -650 8. +350 -350 9. -4,800 10. (b) Determine how much stockholders' equity increased for the month. Service Revenue -$1,600 -$650 Rent Expense -4,800 Salaries/Wages Expense +400 -400 Utilities Expense