Exercise - Eisay) An analysis of the transactions made by Foley & Co, a certified public accounting firm, for the month of August is shown below Labilities Stockholders' Equity Retained Earnings Cash - Accounts Receivable + Supplies - Equipment - Accounts Payable + Common Stock + Revenues - Expenses - Dividend 1. $15,000 $15,000 2. -2,000 $5,000 $3,000 -750 $750 4,900 54,500 59.400 Service Revenue 5 -1.500 - 1,500 -$2.000 - 850 -$850 Rent Ewense 9. -3.900 - 3,900 -500 Salaries/Wages Ex Utilities Expense 500 Describe each transaction that occurred for the month Assets - Liabilities + Stockholders' Equity Accounts Receivable Supplies Equipment - Accounts Payable Common + Revenues $15.000 Stock Expenses Dividends Cash $15,000 -2,000 1 2 $5,000 $3,000 5.750 $4,500 Service Revenue -1,500 5 6 7. B. 9. 4,900 -1,500 -2,000 -850 450 -3,900 -$2,000 Rent Expense -SO -450 -3,900 -500 Salaries/Wages Expense Utilities Expense Increase in stockholders' equity, 2,150 (c) Compute the amount of net income for the month Net Income