Gabi Gram started The Gram Company, a new business that began operations on May 1, The Gram Company completed the follawing transactions during its first month of operations. May 1 Gabi Gran invested 544,000 cash in the company. Nay. 1 The conpany rented a furnished office and paid $2,400 cash for May's rent. Kay 3 the company purchasod $1,880 of equipnent on credit. May 5 the conpany paid $720 cash for this month's eleaning services. May s. The corpany provided consulting services for a client and inrediately collected 55, 70e.cash. Nay 12. The company provided $2,500 of consulting sorvices for a client on credit. May 15 The coppany paid 5750 cash for an assistant's salary for the first half of this month. Nay 20 the conpany recelved $2,500 cash payeent for the services provided on May. 12. May 22 The conpany provided 53,000 of consulting services on credit. Nay 26 The conpany received $3,000 cash payweet for the services provided on May 22 . May 26 . The company paid \$1, 880 cash for the equipwent purchased on May 3. May 23 The conpany parchased $85 of equipent on credit. May 23 ine coepany paid 5750 casb for an assistant's aalary for tbe second half of this nonth. May 30 the cotpany paid sa00 cash for tiis month's telephope bill. May 30 . The coppany paid $200 cash for this month's utilities. Kay 31 babi oran witbdrew 31,400 cash f cod the coepany for por bonal use. THE GRAM COMPANY Income Statement For Month Ended May 31 Revenues: \begin{tabular}{|l|l|l|} \hline Consulting services revenue & & \\ \hline & & \\ \hline Expenses & & \\ \hline Rent expense & & \\ \hline Cleaning expense & & \\ \hline Salaries expense & & \\ \hline Telephone expense & & \\ \hline Utilities expense & \\ \hline Total expenses & \\ \hline \end{tabular}