An analysis of the transactions made by Sunland & Co, a certified public accounting firm, for the month of August is shown below. The expenses were $750 for rent, $5,700 for salaries and wages, and $600 for utilities, Accounts Receivable Supplies + Equipment Accounts Payable Owner's Capital $15,500 Owner's Drawings Revenues Expenses $6,000 $2,300 $700 $3,500 57.600 - 1.000 $1.300 -$750 -450 -5,700 -600 600 Assume that August is the company's first month of business. Prepare an income statement for August 31, 2020 SUNLAND & CO. Income Statement For the Month Ended upust 31, 2020 Revenues Service Revenue 7600 Expenses Rent Expense 750 Salaries and Wages Expense 5.700 Utilities Experne 600 Total Expenses 7050 Net Income to 550 Prepare an owner's equity statement for August 31, 2020. (List Items that increase owner's equity first.) SUNLAND & CO. Owner's Equity Statement