Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed th transactions during its first month of operations. May 1 G. Gram invested $42,000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,300 cash for May's rent. 3 The company purchased $1,860 of office equipment on credit. 5. The company paid $770 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,300 cash. 12 The company provided $2,400 of consulting services for a client on credit. 15 The company paid $720 cash for an assistant's salary for the first half of this month. 20 The company received $2,400 cash payment for the services provided on May 12. 22 The company provided $3,600 of consulting services on credit. 25 The company received $3,600 cash payment for the services provided on May 22. 26 The company paid $1,860 cash for the office equipment purchased on May 3. 27 The company purchased $85 of office equipment on credit. 28 The company paid $720 cash for an assistant's salary for the second half of this month.. 30 The company paid $400 cash for this month's telephone bill. 30 The company paid $270 cash for this month's utilities. 31 The company paid $2,000 cash in dividends to the owner (sole shareholder). Prepare Balance Sheet for May 31. THE GRAM CO. Assets Cash Accounts receivable Office equipment Total assets Balance Sheet May 31 Accounts payable Liabilities 1,945 Equity Common stock 42,000 Retained earnings 4,120 Total equity 46,120 $ 1.945 Total liabilities and equity $ 46,120