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 16. Gram invested $44,500 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,500 cash for May's rent. 3 The company purchased $1,850 of office equipment on credit. 5 The company paid $720 cash for this month's cleaning services. B The company provided consulting services for a client and immediately collected $5,900 cash. 12 The company provided $3,000 of consulting services for a client on credit. 15 The company paid $720 cash for an assistant's salary for the first half of this month. 20 The company received $3,000 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 $1,850 cash for the office equipment purchased on May 3. 27 The company purchased $85 of advertising in this month's (May) local paper on credit cash payment is due June 1. 28 The company paid $720 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). + Equity Assets Accounts Receivable Date Cash Liabilities Accounts Payable Office Equipment + Common Stock - Dividends + Revenues Expenses May 1 1 5 8 + 12 15 20 22 25 26 27 28 30 30 31 - +