[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 $43,500 cash in the company.
		1		The company rented a furnished office and paid $2,400 cash for Mays rent.
		3		The company purchased $1,890 of office equipment on credit.
		5		The company paid $800 cash for this months cleaning services.
		8		The company provided consulting services for a client and immediately collected $5,200 cash.
		12		The company provided $2,500 of consulting services for a client on credit.
		15		The company paid $780 cash for an assistants salary for the first half of this month.
		20		The company received $2,500 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 $1,890 cash for the office equipment purchased on May 3.
		27		The company purchased $90 of office equipment on credit.
		28		The company paid $780 cash for an assistants salary for the second half of this month.
		30		The company paid $350 cash for this months telephone bill.
		30		The company paid $270 cash for this months utilities.
		31		G. Gram withdrew $1,500 cash from the company for personal use.

THE GRAM CO.

Income Statement

For Month Ended May 31

THE GRAM CO.

Statement of Owner's Equity

For Month Ended May 31

THE GRAM CO

Balance Sheet

May 31

THE GRAM CO.

Statement of Cash Flows

For Month Ended May 31