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.

May 1G. Gram invested $43,000 cash in the company in exchange for its common stock.1The company rented a furnished office and paid $2,600 cash for May's rent..3The company purchased $1,880 of office equipment on credit.5The company paid $740 cash for this month's cleaning services.8The company provided consulting services for a client and immediately collected $5,200 cash.

12The company provided $2,900 of consulting services for a client on credit.

15The company paid $750 cash for an assistant's salary for the first half of this month.20The company received $2,900 cash payment for the services provided on May 12.

22The company provided $3,700 of consulting services on credit.25The company received $3,700 cash payment for the services provided on May 22.26The company paid $1,880 cash for the office equipment purchased on May 3.27The company purchased $80 of advertising in this month's (May) local paper on credit; cash payment is due June 1.

28The company paid $750 cash for an assistant's salary for the second half of this month.30The company paid $350 cash for this month's telephone bill.30The company paid $280 cash for this month's utilities.31The company paid $1,900 cash in dividends to the owner (sole shareholder).

Prepare Balance Sheet for May 31.