Gerald Grass started the Grass Company, a new business that began operations on May 1. The Grass Company completed the following transactions during its first month of operations: May 1 May 1 . May 3 May 5 May 8 May 12 G. Grass invested $40,000 cash in the company in exchange for its common stock. The company rented a furnished office and paid $2,200 cash for May's rent. The company purchased $1,890 of equipment on credit. The company paid $750 cash for this month's cleaning services. The company provided consulting services for a client and immediately collected $5,400 cash. The company provided $2,500 of consulting services for a client on credit. May 15 May 20 May 22 The company paid $750 cash for an assistant's salary for the first half of this month. The company received $2,500 cash payment for the services provided on May 12. The company provided $3,200 of consulting services on credit. May 25 May 26 The company received $3,200 cash payment for the services provided on May 22. The company paid $1,890 cash for the equipment purchased on May 3. May 27 The company purchased $80 of equipment on credit. May 28 May 30 The company paid $750 cash for an assistant's salary for the second half of this month. The company paid $300 cash for this month's telephone bill. May 30 The company paid $280 cash for this month's utilities. May 31 The company paid $1,400 cash in dividends to the owner (sole shareholder). a. Using the Accounting Equation, analyze each transaction and enter the amount under the correct account heading. b. Prepare an Income Statement. c. Prepare a Statement of Retained Earnings. d. Prepare a Balance Sheet