(d) A decrease in assets and a decrease in owners equity (e) A decrease in assets and a decrease in babes 00 An increase in liabilities and a decrease in owners equity An increase in owner's equity and a decrease in liabilities. 38 1 Acnounting in Action accounting firm for the month of August is shown below. The expenses were 3650 for ren, $4 800 for salaries and wages, and $400 for utilSties senon an 18 An analbsis of the tranactions made by Arthur Cooper & Co, a certified public AccountsOwner's Owner's - Payable $15,000 9SgeulpmentCure Drawinge Recenues spenises 1+515,000 $5,000 $3,000 -$8,500 +5750 3-7s0 4 4,600 +$3,900 S. 1300 6 -2.000 -1,500 $2,000 5650 -4,800 400 +450 450 94800 ) Describe each transaction that occurred for the month (b) Determine how mach owners equity increased for the month. c) Compute the amount of net income for the moath E1.-9 An analysis of tranmactions for Arthur Cooper & Co. was presented in E1-8 LO 5) Prepare an income statement and an owner's equity statement for August and a balance beet at August 31, 2017. Assume that August is the company's first month of business, E1-10 Finch Company had the following assets and liabilities on the dates indicated December 31 2016 2017 2018 Total Assets Total Liabilities $250,000 $300,000 O 5) $400,000 s460,000 $590,000 0,000 Finch began business on January 1, 2016, with an investment of $100,000. Instructions From an analysis of the change in owner's equity during the year, compute the net income (or loss) for (a) 2016, assuming Finch's drawings were $15,000 for the year (b) 2017, assuming Finch made an additional investment of $45,000 and had no drawings in 2017 (c) 2018, assuming Finch made an additional investment of $15,000 and had drawings of $25,000 in 2018 E1-11 Two iteems are onited from euch of the following summaries of balance sheet and income statement data for two proprietorships for the year 2017. Greene's Goods and Awsdye frencal nsemen 10 5) Solar Enterprises Greene's Solar Beginning of year Total assets Total liabilities Total owner's equity Goods Enterprises 110,000$129,000 85,000 80,000