Your answer is partially correct. 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 $550 for rent, $3,800 for salaries and wages, and $300 for utilities. Accounts Accounts Owner's Owner's Cash + Receivable + Supplies + Equipment = Payable + Capital Drawings + Revenu 1. +$14,000 +$14,000 2. -2,000 +$4,000 +$2,000 3. -650 +$650 4. +2,900 +$4,600 +$7,50 5. -1,000 6. -1,000 -1,000 -$1,000 7. -550 8. +350 -350 9. -3,800 10. +300 (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 eTextbook and Media Save for Later 2,850 13,000 Assistance Used Attempts: 1 of 5 used Submit Answer Question 1 of 2 View Policies Show Attempt History < > Current Attempt in Progress Your answer is partially correct. 2.5/5 An analysis of the transactions made by Blossom & Co., a certified public accounting firm, for the month of August is shown as follo The expenses were $550 for rent, $3,800 for salaries and wages, and $300 for utilities. Accounts Accounts + Receivable + Supplies + Equipment = Payable + Capital +$4,000 +$2,000 +$650 +$4,600 -350 Owner's Owner's Drawings + Revenues Exper +$14,000 -1,000 -$1,000 (b) Determine how much owner's equity increased for the month. Net increase in owner's equity $ 13,000 (c) Compute the amount of net income for the month. Net income $ eTextbook and Media Save for 2,850 +300 +$7,500 -3. Assistance Us Attempts: 1 of 5 used Submit