An analysis of the transactions made by Sunland 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 Stock Accounts Receivable Accounts Payable Common Stock Cash + + Supplies + Equipment + Revenues Expe! 1 +$14,000 +514,000 2 -2,000 +$5,000 +$3,000 3 -750 +$750 4 +4.300 +$3,900 +$8,200 5 - 1.200 -1,200 6. -2.400 7 -700 8. +450 -450 9. -5,200 10 +700 An analysis of the transactions made by Sunland Company, a certified public accounting firm, for the month of August is as follows Each increase and decrease in stockholders' equity is explained. Liabilities + Accounts ilies - Equipment - Payable Stockholders' Equity Retained Earnings Expenses Dividends Common Stock + Revenues +$ 14,000 +35,000 $3,000 750 $8.200 Service Revenue - 1.200 -52,400 -$700 Rent Expense -5,200 Salaries/Wages Expense Utilities Expense -700 - 700 (b) Determine how much stockholders' equity increased for the month. Increase in stockholders equity s (c) Compute the amount of net income for the month. Net income 5