Support sources View Policies Current Attempt in Progress An analysis of the transactions made by Sheridan Company, a certified public accounting firm, for the month of August is shown below. Each change in revenues or expenses is explained. Assets Liabilities + Stockholders' Equity Accounts Accounts Common Retained Earnings Cash + Receivable + Supplies + Equipment - Payable - Stock + Revenues - Expenses - Dividend 1. $14,000 $14,000 2. - 1,000 $4,500 $3,500 3. -850 $850 4,900 $3,700 $8,600 Service Revenue 5. -1,200 - 1.200 6. -2,500 -$2,500 7. - 750 -$750 Rent Expense 8. -500 9. -4,600 -4,600 Salaries/Wages Expense 10. 700 - 700 Utilities Expense 4. 500 (b) Determine how much stockholders' equity increased for the month. in stockholders' equity $ le Compute the amount of net income for the month. Net income /(loss) $ e Textbook and Media