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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

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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 $40,000 cash in the company. 1 The company rented a furnished office and paid $2,100 cash for May's tent. 3. The company purchased $1,920 of office equipment on credit. 5 The company paid $750 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,600 cash. 12 The company provided $2,700 of consulting services for a client on credit. 15 The company paid $760 cash for an assistant's salary for the first half of this month. 20 The company received $2,700 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 $80 of office equipment on credit. 28 The company paid $760 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 G. Gram withdrew $1,500 cash from the company for personal use. 2-a. Prepare income statement for May. 2-b. Prepare statement of owner's equity for May. 2-c. Prepare Balance Sheet for May 31. 3. Prepare statement of cash flows for May. Required 2A Required 2B Required 2C Required 3 THE GRAM CO. Income Statement For Month Ended May 31 Revenues: Expenses Total expenses Required 2A Required 2B Required 2C Required 3 Prepare statement of owner's equity for May. THE GRAM CO. Statement of Owner's Equity For Month Ended May 31 G. Gram, Capital, May 1 $ 0 G. Gram, Capital, May 31 Required 2A Required 2B Required 2C Required 3 Prepare statement of cash flows for May. (Cash outflows should be indicated with a minus sign.) THE GRAM CO. Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities Cash flows from investing activities Prou 7 7. 0 Required information Cash flows from investing activities Cash flows from financing activities 0 Cash balance, May 1 Cash balance, May 31

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