A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders€™ equity is explained.

Instructions
(a) Describe each transaction.
(b) Determine how much stockholders€™ equity increased for the month.
(c) Compute the net income for themonth.

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Assets Llabilitles Stockholders Equity Office Account Retained Earnings Cash A/R +Supp. + Equp-Payable Stock +RevExp-Div 1. +$20,000 2 1,000 3. 750 4. +44005400 5. 1500 6. -2.000 7.-800 8. 9 3,000 10. +$20,000 Com. Stock 4$5,000 $4,000 $750 +59,800 Serv Rey -1,500 -$2,000 Div -3 800 Rent Exp. +450 -450 3.000 -500 Sal Exp Util Exp, +500