An equation analysis of the transactions made during August 2018 (the first month of the fiscal year) by Sheridan Corporation is shown below. Each increase and decrease in shareholders' equity is explained. Assets Liabilities Accounts + Receivable Accum. Dep. Accounts = Payable Common Shares Supplies - Equipment Cash + E Jul. 31 Bal. $ 12.100 $ 2,700 $ 100 $11,000 $ 660 $2,200 $ 20,640 2. (1) 4,700 +4,700 (1,000) +5,000 +4,000 ) 3) 4) (790) +790 3,900 +5,400 (5) (1,700) (1,700) (6) (2,064 ) (750) (8) +440 (440) (9) (2,700) (10) (140) (11) 1,200 (12) +460 (13) (410) An equation analysis of the transactions made during August 2018 (the first month of the fiscal year) by Sheridan Corporation is shown below. Each increase and decrease in shareholders' equity is explained. Liabilities Shareholders Equity Retained Earnings Accum. Dep. Accounts = Payable Common Shares Dividends Declared + Bal. + Revenues Expenses Comments $ 660 $2,200 $20.640 $0 2.400 common shares +4,700 +4,000 +9.300 service revenue (1,700) (2,064 ) dividend (750) rent expense (2,700) (140) salaries expense utilities expense depreciation expense advertising expense 1,200 (1.200) +460 (460) (410) income tax expense Calculate the net income (loss) for the month of August. Net income (loss) $ $