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Required information [The following information applies to the questions displayed below.] Gabl 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. Nay 1. G. Gram invested $43,500 cash in the company in exchange for 1ts comnon stock. May 1 The company rented a furnisbed office and paid $2,300 cash for May's rent. May 3 The eompany purchased $1,890 of equipment on credit. May 5 The cospany paid $750 cash for this month's eleaning services. Nay 8 The company proyided consulting services for a client and imediately collected $5,300 cash. May 12 The company provided $2,900 of consulting services for a elient on credit. Nay 15 The company paid $720 cash for an assistant's salary for the first half of this month. May 20 The company received $2,900 cash payment for the services provided on May 12 . May 22 The company provided $3,100 of consulting services on eredit. May 25 The company received $3,100 cash payment for the services provided on May 22 . May 26 The company paid $1,890 eash for the equipment purchased on May 3 . May 27 The company purchased $85 of equipment on credit. May 28 The company paid $720 cash for an assistant's salary for the second half of this month. May 30 The company paid $400 cash for this month's telephone bill. Nay 30 the company paid $270 cash for this month's utilities. May 31 The company paid $1,500 cash in dividends to the owner (sole shareholder). 2-a. Prepare the income statement for May. 2-b. Prepare the statement of retained earnings for May. 2-c. Prepare the balance sheet for May 31. 3. Prepare the statement of cash flows for May. Prepare the balance sheet for May 31

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