5 Required Information The folowing informetion applies to the questions displayed below Gabi Gram started The Gram Co, a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations. Part 2 of 2 May 1 6. Gram invested $40,e00 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,280 cash for May's rent. 3 The company purchased $1,890 of office equipment on credit. s The company paid $750 cash for this month's cleaning services. 8 The company provided consulting services for a client and innediately collected $5,480 cash. 12 The company provided $2,580 of consulting services for a client on credit. 15 The company paid $750 cash for an assistant's salary for the first half of this month. 20 The company received $2,580 cash payment for the services provided on May 12. 22 The company provided $3,280 of consulting services on credit. 25 The company received $3,288 cash payment for the services provided on May 22. 26 The company paid $1,890 cash for the office equipment purchased on May 3. 27 The company purchased $88 of advertising in this month's (May) local paper on credit; cash payment is due June 1. 28 The company paid $750 cash for an assistant's salary for the second half of this month. 30 The company paid $380 cash for this month's telephone bill 30 The company paid $280 cash for this month's utilities 31 The company paid $1,400 cash in dividends to the owner (sole shareholder). 2.1 Prepare income statement for May THE GRAMCO. ncome Statement For Month Ended May 31 Experses Total xpenses