Net Income and Change in Owner's Equity

Wilhelm Kohl started a business in May $20--$ called Kohl's Home Repair. The trial balance showing balances for

Kohl's Home Repair

Trial Balance

May $31,20-$

$\backslash$table$[[$Account$,\backslash$table$[[$Debit$],[$Balance$]],\backslash$table$[[$Credit$],[$Balance$]]],[$Cash$,21,805,],[$Accounts Receivable,$2,700,],[$Office Supplies,$160,],[$Prepaid Insurance,$1,100,],[$Equipment$,8,200,],[$Van$,6,000,],[$Accounts Payable,$4,4,400],[$Wilhelm Kohl, Capital,,$25,000],[$Wilhelm Kohl, Drawing,$2,900,],[$Service Fees,,$15,500],[$Rent Expense,$850,],[$Wages Expense,$800,],[$Phone Expense,$230,],[$Gas and Oil Expense,$155,],[$Totals$,44,900,44,900]]$

Required:

Determine the following information. Use the format provided below.

a$.$ Total revenue for the month

b$.$ Total expenses for the month

c$.$ Net income for the month

a$.$ Wilhelm Kohl's chiginal investment in the business

Net income for the month

Owner's drawing

Increase $($decrease$)$ in capital

$=$ Ending owner's equity

b$.$ End of month accounting equation:

$\backslash$table$[[$Assets$,=$ Liabilities $+$ Owner's Equity$],[,=+$