An analysis of the transactions made by R&H Blacke Co. a tax firm for the month of July is shown below. Each increase and decrease in owner's equity is explained. 
(a) Determine how much owner's equity increased for the month.
(b) Compute the amount of net income for the month.
Definitions:
Net Income
The net income of a company once all costs and taxes are deducted from its total revenue.
Short-Term Stock Investments
Investments in stocks that are intended to be held for a short period, typically less than one year, for earning quick profits.
Cash Dividends
Payments made by a corporation to its shareholder members. It is the share of profits distributed.
Mikel Company Bonds
Debt securities issued by Mikel Company to investors, representing loans made by investors to the company.
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