Required information [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. completed the following transactions during its first month of operations. May 1 G. Gram invested 542,500 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 $1,940 of office equipment on credit. 5 The company paid $730 cash for this month's cleaning services. 8 The company provided consulting Services for client and immediately collected $5,200 cash. 12 The company provided $2,900 of consulting services for a client on credit. 15 The company paid $750 cash for an assistant's salary for the first half of this month. 20 The company received $2,900 cash payment for the services provided on May 12. 22 The company provided 53,700 of consulting Services on credit, 25 The company received $3,700 cash payment for the services provided on May 22. 26 The company paid $1,040 cash for the office equipment purchased on May 3. 27 The company purchased $85 of office equipment on credit. 28 The company paid $750 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 $290 cash for this month's utilities 31 The company paid $1,700 cash in dividends to the owner (sole shareholder). 2.1. Prepare the income statement for May