Assets An analysis of the transactions made by Sunland Company, a certified public accounting firm, for the month of August is shown below. Stockholders' Equity = Liabilities + Retained Earnings Accounts + Cash Receivable Supplies Equipment Accounts Payable 1. +$14,000 Common Stock +$14,000 + Revenues Expenses Dividend 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 Service Revenue -$2,400 -$700 Rent Expense 8. +450 -450 9. -5,200 10. +700 -5,200 Salaries/Wages Expense -700 Utilities Expense (b) Determine how much stockholders' equity increased for the month. Increase in stockholders' equity (c) Compute the amount of net income for the month. Net income