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On January 1, 2014, Alicia Masingale established Leopard Realty, which completed the following transactions during the month:

Alicia Masingale transferred cash from a personal bank account to an account to be used for the business, $23,500.
Paid rent on office and equipment for the month, $4,000.
Purchased supplies on account, $1,800.
Paid creditor on account, $675.
Earned sales commissions, receiving cash, $16,750.
Paid automobile expenses (including rental charge) for month, $1,000, and miscellaneous expenses, $800.
Paid office salaries, $2,150.
Determined that the cost of supplies used was $925.
Withdrew cash for personal use, $1,600.

Assuming a beginning balance of zero, determine the total increase or decrease in owner's equity for January.

 

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