E1-8 An analysis of the transactions made by S. Moses & Co., a certified public accounting firm, for the month of August is shown below. Each increase and decrease in stockholders’ equity is explained.

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E1-8 An analysis of the transactions made by S. Moses & Co., a certified public accounting firm, for the month of August is shown below. Each increase and decrease in stockholders’ equity is explained.

Instructions:
(a) Describe each transaction that occurred for the month.
(b) Determine how much stockholders’ equity increased
(c) Compute the amount of net income for the month.