Question

Atabular analysis of the transactions made during August 2022 by Cullumber Company during its first month of operations is shown below. Each increase and decrease in stockholders'equity is explained Assets Liabilities Accounts Payable Stockholders' Equity Retained Earnings Cash Common + AR + Supp. + Equip Stock Revenues Expenses Divi 1 $17,200 2 $17,200 -1,400 -550 $5.100 $2.700 $550 4 3.500 55,600 59.100 5. 6. -2500 -2.500 - 2.500 $ 2 -740 - $740 8 520 -520 9 - 3.200 3200 10 320 -320 (b) Determine how much stockholders' equity increased for the month Increase in stockholders' equity Id Compute the net income for the month The net income

Answer 1

Revenues	9100
Less: Expenses	4260	=740+3200+320
Net income	4840
b
Issuance of common Stock	17200
Add: Net income	4840
Less: Dividends	-2500
Increase in Stockholders' Equity	19540
c
The net income	4840