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		1		G. Gram invested $40,500 cash in the company in exchange for its common stock.
		1		The company rented a furnished office and paid $2,600 cash for Mays rent.
		3		The company purchased $1,930 of office equipment on credit.
		5		The company paid $750 cash for this months cleaning services.
		8		The company provided consulting services for a client and immediately collected $6,000 cash.
		12		The company provided $3,000 of consulting services for a client on credit.
		15		The company paid $740 cash for an assistants salary for the first half of this month.
		20		The company received $3,000 cash payment for the services provided on May 12.
		22		The company provided $3,400 of consulting services on credit.
		25		The company received $3,400 cash payment for the services provided on May 22.
		26		The company paid $1,930 cash for the office equipment purchased on May 3.
		27		The company purchased $75 of office equipment on credit.
		28		The company paid $740 cash for an assistants salary for the second half of this month.
		30		The company paid $300 cash for this months telephone bill.
		30		The company paid $280 cash for this months utilities.
		31		The company paid $1,800 cash in dividends to the owner (sole shareholder).

2-c. Prepare balance sheet for May 31. 3. Prepare statement of cash flows for May.