An analysis of the transactions made by J. L. Kang & Co., a certified public accounting firm, for the month of August is shown below. Each increase and decrease in stockholders' equity is explained.

Instructions
(a) Describe each transaction that occurred for the month.
(b) Determine how much stockholders’ equity increased for the month.
(c) Compute the amount of net income for themonth.

Assets - Liabilities + Stockholders' Equity Accounts Receivablepli Equipment Accounts Common Cash+ Exp.Div Payable Stocked Earnings Kev 1.$15,000 2. 2,000 -750 +$15,000 +$5,000$3,000 +$750 4. +4,600 4,500 +$9,100 5.-1,500 6. 2,000 -650 +450 9. 3,900 1,500 -$2,000 -$650 -450 -3,900 -500 10 +500