Current Attempt in Progress An analysis of the transactions made by Pharoah & Co, a certified public accounting firm, for the month of August is shown as follows The expenses were $550 for rent, $5,700 for salaries and wages, and $450 for utilities Accounts Accounts Payable Owner's Capital Owner's Drawings + Revenues + Exe Cash + Receivable + Supplies - Equipment 15,500 +$15,500 -900 +$4,400 $3,500 -750 *$750 -4.700 $3,500 +58,200 -1,500 - 1,500 -$1.000 -1.000 -550 4400 -400 -5,700 +450 1 [b Determine how much owner's guity increased for the month Net Increase in owner's culty 5 le Compute the amount of net income for the month Notincome