2 Required information [The following information applies to the questions displayed below) Gabi Gram started The Gram Company, a new business that began operations on May 1. The Gram Company completed the following transactions during its first month of operations. May 1 G. Gran invested $41.500 cash in the company. May 1 The company rented a furnished office and paid $2,200 cash for May's rent. May The company purchased $1,920 of equipment on credit. May 5 The company paid $730 cash for this month's cleaning services. May The company provided consulting services for a client and immediately collected $5,900 cash. May 12 The company provided $3,000 of consulting services for a client on credit. May 15 The company paid $760 cash for an assistant's salary for the first half of this month. May 20 The company received $3,000 cash payment for the services provided on May 12. May 22 The company provided $3,800 of consulting services on credit. May 25 The company received $3,800 cash payment for the services provided on May 22. May 26 The company paid $1,920 cash for the equipment purchased on May 3. May 27 The company purchased $85 of equipment on credit. May 28 The company paid $760 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this month's telephone bill. May 30 The company paid $260 cash for this month's utilities May 31 G. Gran withdrew $1,500 cash from the company for personal use. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" for account titles If the transaction does not include an expense.) expense.) ILLUUNUUS the transaction does not include an . Bate Assots Accounts Recevable Cash Equipment Llabilities Accounts Payable G. Gram Capital Equity G. Gram, Withdrawals Revenues Expenses Account Titles for Expanse . - . + May 1 May 1 May 3 May 5 May 8 May 12 May 15 May 20 May 22 May 25 May 26 May 27 May 28 May 30 May 30 May 31 + + + + + +++++ . + + . ++ +1+ III + $ 0 - s 0- s $ 0 $ 0 $ 0 + $ 01 $ 0 Required information Required 2A Required 28 Required 2C Required 3 Prepare the income statement for May THE GRAM COMPANY Income Statement For Month Ended May 31 Revues Expenses TO Required 2 > B H Required 2A Required 2B Required 20 Required 3 Prepare the balance sheet for May 31. THE GRAM COMPANY Balance Sheet May 31 Assets Liabilities Equity Total assets $ O Total liabilities and equity $ 0 Required 2A Required 2B Required 20 Required 3 Prepare the statement of cash flows for May. (Cash outflows should be indicated with a minus sign THE GRAM COMPANY Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities $ 0 Cash flows from investing activities