Determine how much owner's equity increased for the month.Compute the amount of net income for the month.

Exercise 1-08 An analysis of the transactions made by Carla Vista & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $550 for rent, $4,800 for salaries and wages, and $330 for utilities. Accounts Accounts Owner's Owner's Cash Receivable + Supplies + Equipment = Payable + Capital - Drawings + Revenues - Expenses 1. +$15,200 +$15,200 2. -3,900 +$5,900 +$2,000 3. -700 +$700 +4,600 +$2,900 +$7,500 5. -1,000 -1,000 6. -1,700 -$1,700 7. -550 -$550 +450 -450 -4,800 -4,800 10. +330 -330 (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