An equation analysis of the transactions made during August 2018 (the first month of the fiscal year) by Cullumber Corporation is shown below. Each increase and decrease in shareholders' equity is explained. Assets Liabilities + Accounts Receivable Accum. Dep. Accounts Payable Common Shares Cash + + Supplies + Equipment + + E Jul. 31 Bal. $ 11,000 $ 2,600 $ 100 $ 11,000 $ 660 $ 2,400 $ 20,040 1, + (1) 4,500 +4,500 (2) (1,100) +4,600 +3,500 (3) (750) + 750 + (4) 4,500 + 5,000 (5) (1,700) (1,700) (6) (2,004) (7) (810) (8) + 490 (490) (9) (2,900) (10) (130) An equation analysis of the transactions made during August 2018 (the first month of the fiscal year) by Cullumber Corporation is shown below. Each increase and decrease in shareholders' equity is explained. Liabilities + Shareholders' Equity Retained Earnings .ccum. Dep. Accounts Payable Common Shares Dividends Declared = + + Bal. + Revenues - Expenses Comments $ 660 $ 2,400 $ 20,040 $ 1,600 $0 common shares +4,500 + 3,500 service revenue +9,500 (1,700) (2,004) dividend (810) rent expense (2,900) salaries expense (130) utilities expense (0) + 440 (9) (2,900) (10) ( 130 ) + (11) 1,300 (12) + 480 (13) ( 410 ) (2,900 ) salaries expense ( 130 ) utilities expense ( 1,300 ) depreciation expense (480) advertising expense (410) income tax expense (c) Determine how much total shareholders' equity increased for the month of August. Increase in shareholders' equity $