May1G. Gram invested $40,000 cash in the company in exchange for its common stock.1The company rented a furnished office and paid $2,200 cash for May's rent.3The company purchased $1,890 of office equipment on credit.5The company paid $750 cash for this month's cleaning services.8The company provided consulting services for a client and immediately collected $5,400 cash.12The company provided $2,500 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 $2,500 cash payment for the services provided on May 12.22The company provided $3,200 of consulting services on credit.25The company received $3,200 cash payment for the services provided on May 22.26The company paid $1,890 cash for the office equipment purchased on May 3.27The company purchased $80 of office equipment on credit.28The company paid $750 cash for an assistant's salary for the second half of this month.30The company paid $300 cash for this month's telephone bill.30The company paid $280 cash for this month's utilities.31The company paid $1,400 cash in dividends to the owner (sole shareholder).

2-a.Prepare income statement for May.

2-b.Prepare statement of retained earnings for May.

2-c.Prepare balance sheet for May 31.

3.Prepare statement of cash flows for May.