An analysis of the transactions made by Sunland & Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $650 for rent, $5,100 for salaries and wages, and $350 for utilities. (Ctrl) Accounts Cash +$15,700 Receivable + Supplies + Equipment Accounts Payable Owner's Capital +$15,700 Owner's Drawings + Revenues Expenses -2,600 +$5,300 +$2,700 -850 +$850 +4,200 +$5,000 +$9,200 -1,000 -1,600 -1,000 -$1,600 -650 -$650 -450 +450 -5,100 +350 (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 $ -5,100 -350