Required information Problem 1-7A Analyzing transactions and preparing financial statements LO P1, P2 (The following information applies to the questions displayed below.] Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. comp transactions during its first month of operations. May 1 G. Gram invested $45,000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,400 cash for May's rent. 3 The company purchased $1,920 of office equipment on credit. 5 The company paid $720 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,400 cash. 12 The company provided $2,800 of consulting services for a client on credit. 15 The company paid $780 cash for an assistant's salary for the first half of this month. 20 The company received $2,800 cash payment for the services provided on May 12. 22 The company provided $3,900 of consulting services on credit. 25 The company received $3,900 cash payment for the services provided on May 22. 26 The company paid $1,920 cash for the office equipment purchased on May 3. 27 The company purchased $85 of office equipment on credit. 28 The company paid $780 cash for an assistant's salary for the second half of this month. 30 The company paid $300 cash for this month's telephone bill. 30 The company paid $280 cash for this month's utilities. 31 The company paid $1,600 cash in dividends to the owner (sole shareholder). Prepare statement of cash flows for May. (Cash outflows should be indicated with a minus sign.) of 2 THE GRAM CO. Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities Cash paid to employees Cash paid to employees Book Print erences $ 0 Cash flows from investing activities 0 Cash flows from financing activities