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 1 G. Gram invested $43,500 cash in the company. May 1 The company rented a furnished office and paid $2,500 cash for May's rent. May 3 The company purchased $1,900 of equipment on credit. May 5 The company paid $740 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,300 cash. May 12 The company provided $2,500 of consulting services for a client on credit. May 15 The company paid $760 cash for an assistant's salary for the first half of this month. May 20 The company received $2,500 cash payment for the services provided on May 12. May 22 The company provided $3,100 of consulting services on credit. May 25 The company received $3,100 cash payment for the services provided on May 22. May 26 The company paid $1,900 cash for the equipment purchased on May 3. May 27 The company purchased 585 of equipment on credit. May 28 The company paid $760 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this month's telephone bill. May 30 The company paid $270 cash for this month's utilities. May 31 G. Gram withdrew $1,500 cash from the company for personal use. 2-a. Prepare the income statement for May. 2-b. Prepare the statement of owner's equity 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. Required 2A Required 28 Required 20 Required 3 Required information 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. Required 2A Required 2B Required 2C Required 3 Prepare the income statement for May. THE GRAM COMPANY Income Statement For Month Ended May 31 Revenues: Expenses Total expenses Complete this question by entering your answers in the ta Required 2A Required 2B Required 2C Required 3 BERES Prepare the statement of owner's equity for May. THE GRAM COMPANY Statement of Owner's Equity For Month Ended May 31 G. Gram, Capital, May 1 $ 0 G. Gram, Capital, May 31 Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 2C Required 3 Prepare the balance sheet for May 31. THE GRAM COMPANY Balance Sheet May 31 Assets Liabilities Equity Total assets Total liabilities and equity Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities 0 Cash balance, May 1 Cash balance, May 31
