RUTH CONSULTING Income Statement For the Month Ended May 31, 2022 $ $ Ruth Lewis started her own consulting firm, Ruth Consulting, on May 1, 2022. The following transactions occurred during the month of May. May 1 Ruth invested $7,800 cash in the business. 2 Paid $850 for office rent for the month. 3 Purchased $600 of supplies on account. 5 Paid $110 to advertise in the County News. 9 Received $4,400 cash for services performed. 12 Withdrew $1,100 cash for personal use. 15 Performed $5,100 of services on account. 17 Paid $2,600 for employee salaries. 20 Made a partial payment of $400 for the supplies purchased on account on May 3. 23 Received a cash payment of $3,600 for services performed on account on May 15. 26 Borrowed $4,700 from the bank on a note payable. 29 Purchased equipment for $4,400 on account. 30 Paid $300 for utilities