+ + + + Exercise 1-08 An analysis of the transactions made by Wildhorse Co., a certified public accounting firm, for the month of August is shown below. Assets Liabilities + Stockholders' Equity Retained Earnings Accounts Accounts Common Cash Receivable Supplies Equipment Payable Stock Revenues Expenses Dividend 1. +$15,000 +$15,000 2. -1,000 +$4,000 +$3,000 3. -750 +$750 4. +5,200 +$3,500 +$8,700 Service Revenue 5. -1,700 -1,700 6. -1,100 -$1,100 7. -550 -$550 Rent Expense 8. +450 -450 9. -5,600 -5,600 Salaries/Wages Expense 10. +300 -300 Utilities Expense (b) Determine how much stockholders' equity increased for the month. Increase in stockholders' equity $ (c) Compute the amount of net income for the month. Net income $ LINK TO TEXT LINK TO TEXT Ques