Required information [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 1G. Gran invested $41,000 cash in the company in exchange for its common stock. May 1 The company rented a furnished office and paid $2,400 cash for May's rent. May 3 The eompany purchased $1,930 of equipent on eredit. May 5 The company paid $780 cash for this month's cleaning services. May 8 The company provided consulting services for a client and inmediately collected $5,500 cash. Hay 12 the company provided $2,800 of consulting services for a olient on oredit. Kay 15 The company paid $730 cash for an assistant "s salary for the first half of this month. May 20 The cospany received $2,800 cash payment for the services provided on May 12 . May 22 The company provided $3,200 of consulting services on credit. May 25 The cospany received $3,200 cash paypent for the services provided on May 22. Kay 26 The conpany pald $1,930cash for the equiptont purchased on May 3. Kay 27 The company purchased $90 of equipenent on eredit. May 28 The company paid $730 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this nonth's telephone bili. May 30 The compasy paid $280 cash for thin month'n utilities. May, 31 The company paid $1,900 cash in dividends to the owner (sole shareholder). 2-a. Prepare the income statement for May. 2-b. Prepare the statement of retained earnings for May. 2-c. Prepare the balance sheet for May 31. 3. Prepare the statement of cash flows for May. Complete this question by entering your answers in the tabs below. Prepare the income statement for May. Complete this question by entering your answers in the tabs below. Prepare the income statement for May. Required information [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 1G. Gran invested $41,000 cash in the company in exchange for its common stock. May 1 The company rented a furnished office and paid $2,400 cash for May's rent. May 3 The eompany purchased $1,930 of equipent on eredit. May 5 The company paid $780 cash for this month's cleaning services. May 8 The company provided consulting services for a client and inmediately collected $5,500 cash. Hay 12 the company provided $2,800 of consulting services for a olient on oredit. Kay 15 The company paid $730 cash for an assistant "s salary for the first half of this month. May 20 The cospany received $2,800 cash payment for the services provided on May 12 . May 22 The company provided $3,200 of consulting services on credit. May 25 The cospany received $3,200 cash paypent for the services provided on May 22. Kay 26 The conpany pald $1,930cash for the equiptont purchased on May 3. Kay 27 The company purchased $90 of equipenent on eredit. May 28 The company paid $730 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this nonth's telephone bili. May 30 The compasy paid $280 cash for thin month'n utilities. May, 31 The company paid $1,900 cash in dividends to the owner (sole shareholder). 2-a. Prepare the income statement for May. 2-b. Prepare the statement of retained earnings for May. 2-c. Prepare the balance sheet for May 31. 3. Prepare the statement of cash flows for May. Complete this question by entering your answers in the tabs below. Prepare the income statement for May. Complete this question by entering your answers in the tabs below. Prepare the income statement for May
