Gabi Gram started The Gram Company, a new business that began operations on May 1. The Gram Company completed the following transactions during its first month of operations.

May 1	G. Gram invested $44,500 cash in the company in exchange for its common stock.
May 1	The company rented a furnished office and paid $2,200 cash for Mays rent.
May 3	The company purchased $1,920 of equipment on credit.
May 5	The company paid $750 cash for this months cleaning services.
May 8	The company provided consulting services for a client and immediately collected $5,900 cash.
May 12	The company provided $2,800 of consulting services for a client on credit.
May 15	The company paid $750 cash for an assistants salary for the first half of this month.
May 20	The company received $2,800 cash payment for the services provided on May 12.
May 22	The company provided $3,300 of consulting services on credit.
May 25	The company received $3,300 cash payment for the services provided on May 22.
May 26	The company paid $1,920 cash for the equipment purchased on May 3.
May 27	The company purchased $90 of equipment on credit.
May 28	The company paid $750 cash for an assistants salary for the second half of this month.
May 30	The company paid $350 cash for this months telephone bill.
May 30	The company paid $260 cash for this months utilities.
May 31	The company paid $1,500 cash in dividends to the owner (sole shareholder).

Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" for account titles if the transaction does not include an expense.)

Date May 1 May 1 May 3 May 5 May 8 May 12 May 15 May 20 May 22 May 25 May 26 May 27 May 28 May 30 May 30 May 31 Cash + $43,500 + (2,200) + 1 + + 5,400 + + (730) + 2,500 + + 3,800 + (1,940) + + (730) + (350) + 260 + 1.500 + $51,011 + Assets Accounts Receivable $ + Equipment + + + + + 2,500 + + (2,500) + 3,800 + (3,800) + + + + + + 0 + 1,940 $ 1,940 = = = = = = = = = = = = = = = = = = = Liabilities + Accounts Payable $ 1,940 + 75 + + + + + + + + + + (1,940) + 75 + + + + + + Common Stock $ 43,500 $ 43,500 Equity Dividends $ + Revenues + +++ + + + + + + + +++++ 1,500 + 1,500 + 5,400 2.500 3,800 $ 11,700 - Expenses 2,200 730 730 75 730 350 300 $ 5,115 Account Titles for Expenses Cleaning Rent Salary Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 2C Prepare the income statement for May. Revenues: Expenses Total expenses Required 2A Required 2B Required 2C Retained earnings, May 1 THE GRAM COMPANY Income Statement For Month Ended May 31 Retained earnings, May 31 Prepare the statement of retained earnings for May. THE GRAM COMPANY Statement of Retained Earnings For Month Ended May 31 Required 3 $ $ Required 2A Required 3 0 0 0 Required 2C > Required 2A Required 2B Required 2C Prepare the balance sheet for May 31. Total assets Assets Cash flows from operating activities Cash flows from investing activities Cash balance, May 1 Cash balance, May 31 Cash flows from financing activities Required 3 THE GRAM COMPANY Balance Sheet May 31 $ THE GRAM COMPANY Statement of Cash Flows For Month Ended May 31 Total liabilities