Required information Problem 1-7A (Algo) Analyzing transactions and preparing financial statements LO P1, P2 (The following information applies 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 G. Gram invested $42.000 cash in the company. May 1 The company rented a furnished office and paid $2,200 cash for May' s rent. May 3 The company purchased $1.880 of equipment on credit. May 5 The company paid $800 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,800 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 $3,100 of consulting services on credit. May 25 The company received $3,100 cash payment for the services provided on May 22. May 26 The company paid $1.880 cash for the equipment purchased on May 3. May 27 The company purchased $85 of equipment on credit. May 28 The company paid $720 cash for an assistant's salary for the second half of this month. May 30 The company paid $300 cash for this month' s telephone bill. May 30 The company paid $270 cash for this month' s utilities. May 31 G. Gram withdrew $1,900 cash from the company for personal use. Required 2A Required 2B Required 2C Required 3 Prepare the statement of cash flows for May. (Cash outflows should be indicated with a minus sign.) THE GRAM COMPANY Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities $ 0 Cash flows from investing activities 0 Cash flows from financing activities 0 S 0 0 Cash balance, May 1 Cash balance, May 31 S 0