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 Gabi Gram invested $41,500 cash in the company. May 1 The company rented a furnished office and paid $2,200 cash for May's rent. May 3 The company purchased $1,930 of equipment on credit. May 5 The company paid $798 cash for this nonth's cleaning services. May 8 The company provided consulting services for a client and immediately collected s5, 8ee cash. May 12 The company provided $2,700 of consulting services for a client on credit. May 15 The company paid $790 cash for an assistant's salary for the first half of this month. May 20 The conpany received $2,700 cash payment for the services provided on May 12 . May 22 The company provided $4,000 of consulting services on credit. Kay 25 The conpany received $4,000 cash payment for the services provided on May 22. May 26 The company paid $1,930 cash for the equipment purchased on May 3. May 27 The conpany purchased $75 of equipment on credit. May 28 The cospany paid $790 cash for an assistant's salary for the second half of this month. Hay 30 . The company paid 5350 cash for this nonth's telephone bili. May 30 The company paid $28 cash for this month's utilities. May 31 Gabi Gran withdrew $1,706 cash from the company for personal use. Prepare the income statement for May. Prepare the statement of owner's equity for May. Prepare the balance sheet for May 31. Prepare the statement of cash flows for May. Note: Cash outflows should be indicated with a minus sign. 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 Gabi Gram invested $41,500 cash in the company. May 1 The company rented a furnished office and paid $2,200 cash for May's rent. May 3 The company purchased $1,930 of equipment on credit. May 5 The company paid $798 cash for this nonth's cleaning services. May 8 The company provided consulting services for a client and immediately collected s5, 8ee cash. May 12 The company provided $2,700 of consulting services for a client on credit. May 15 The company paid $790 cash for an assistant's salary for the first half of this month. May 20 The conpany received $2,700 cash payment for the services provided on May 12 . May 22 The company provided $4,000 of consulting services on credit. Kay 25 The conpany received $4,000 cash payment for the services provided on May 22. May 26 The company paid $1,930 cash for the equipment purchased on May 3. May 27 The conpany purchased $75 of equipment on credit. May 28 The cospany paid $790 cash for an assistant's salary for the second half of this month. Hay 30 . The company paid 5350 cash for this nonth's telephone bili. May 30 The company paid $28 cash for this month's utilities. May 31 Gabi Gran withdrew $1,706 cash from the company for personal use. Prepare the income statement for May. Prepare the statement of owner's equity for May. Prepare the balance sheet for May 31. Prepare the statement of cash flows for May. Note: Cash outflows should be indicated with a minus sign