(b) Determine how much owner's equity increased for the month. (b) Determine how much owner's equity increased for the month. Net increase in owner's equity (c) Compute the amount of net income for the month. Net income $ Accounts + Accounts Owner's + Receivable + Supplies + Equipment = Payable + Capital Drawings + Revenues - Expenses +$14,700 +$4,100+$2,100 +$700 +$4,400 +$8,600 1,600 $2,400 $750 350 5,200 +400 400 An analysis of the transactions made by Blossom \& Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $750 for rent, $5,200 for salaries and wages, and $400 for utilities