A tabular analysis of the transactions made during August 2014 by Colaw Company during its first month of operations is shown below. Each increase and decrease in stockholders? equity is explained.
|Cash||+?||A/R||+?||Supp.||+?||Equip.||=?||Accounts Payable||+?||Common Stock||+?||Retained Earnings|
Determine how much stockholders? equity increased for the month.
|Increase in stockholders? equity||$|
Compute the net income for the month.
|The net income|| |
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