gust is as follows. Liabilities + Accounts Payable Stockholders' Equity Retained Earnings Expenses Dividends es + Equipment Common Stock $14,000 + + Revenues $4,500 $3,500 50 $8,600 Service Revenue - 1,200 -$2,500 -$750 Rent Expense 700 -4,600 -700 Salaries/Wages Expense 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 $ An analysis of the transactions made by Cheyenne Corp., a certified public accounting firm, for the month of August is as follows. + Std Assets Accounts Receivable + Supplies Liabilities Accounts Payable + + Equipment + Common Stock $14,000 + Revenues Ex 1. $4,500 $3,500 $850 4 $3,700 $8,600 Cash $14,000 - 1,000 -850 4,900 - 1,200 -2,500 -750 500 -4,600 -1,200 5. 6. 7. 8. 9. 10 -500 700 (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 $