Prepare the balance sheet for May 31 . THE GRAM COMPANY Statement of Owner's Equity For Month Ended May 31 \begin{tabular}{|l|l|} \hline Gabi Gram, Capital, May 1 & $ \\ \hline Add: Net income & \\ \hline & \\ \hline & \\ \hline & \\ \hline Gabi Gram, Capital, May 31 & $ \\ \hline \end{tabular} (1) Required information Problem 1-7A (Algo) Analyzing transactions and preparing financial statements LO P1, P2 [The following information applles to the questions displayed below] 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 Gabi Gran invested $42,000 cash in the company. May 1 The company rented a furnished office and paid $2,500 cash for May's rent. May 3 The company purchased $1,88 of equipment on credit. May 5 The company paid $750 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,500 cash. May 12 The company provided $2,800 of consulting services for a client on credit. May 15 The company paid $720 cash for an assistant's 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 $3,700 of consulting services on credit. May 25 The company received $3,700 cash payment for the services provided on May 22 . May 26 The company paid $1,888 cash for the equipment purchased on May 3 . May 27 The company purchased $8 of equipment on credit. May 28 The company paid $72 cash for an assistant's salary for the second half of this month. May 30 The company paid $400 cash for this month's telephone bill. May 30 The company paid $270 cash for this month's utilities. May 31 Gabi Gran withdrew $1,590 cash from the company for personal use. THE GRAM COMPANY Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities (1) Required information Required 2C Reguited 3