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. Complete this question by entering your answers in the tabs belov Prepare the statement of retained earnings for May. 2-0. 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. Complete this question by entering your answers in the tabs below. Prepare the balance sheet for May 31. Gabi Gram started The Gram Company; a new business that began operations on May 1. The Gram Company completed the following transactions during fis first month of operations Nay 1 6. Gron invested sto, soo cash in the company in exchange for its camon stock. Hay 1 The company rented a fursished office and paid 52,200 eash for May's rest. Noy 3 The coepany purchased 51,570 of equipent on credit. kay 5 The company pasid 5 les cash for this month's cleaning services. Hay of The conpany provided consulting services for a client aod innedfately collected $5,400cash. May 12 The coepany provided $2,900 of consulting services for a client on credit. Nay is the company pold 3790 cash for an assistant's salary for the first half of this month. May 20 the conpary recelved 52,900 cash paynent for the services provided oo kay 12. Myy 22 The conpany provided $3,500 of consulting services en credit. Kay 25 the comeny recelved $3,500 cash paysent for the services provided on Hay 22. Hay 26 , the company paid $1,870 cash for the equipment purchased on Hay 3. puy 27 The coepany purchosed $85 of rquipent on credit. hay 21 The conpany paid $790 cash for an assistant's salary for the second half of this month. Kay 30 The company pald steo cash for this month's telephone bill. Nay 30 The corpany paid $260 cash for this month's utilities. Hay 31 the conpany pald $1,600 cash in dividends to the ouner (vole shareholder). Required: 1. Enter the amount of each transaction on individuat items of the accourting equation Note: Enter the tronsoctions in the given order. Enter reductions to account belances with o minus sign. Select "NA" for occount titles if the transoction does not include on expense. Prebare the statement of cach flowe for Mav 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. My 1 G. Gran Invested $40,500 cash in the conpany in exchange for its comon stock. My 1 The company rented a furnished of fice and paid $2,200 cash for Hay's rent. May 3 The company purchased $1; 870 of equipment on credit. Moy 5 The conpany pald $500 cash for this month's cleaning services. May of The conpany provided consulting services for a client and immediately collected $5,400 cash. Hay 12 . The company provided 32,900 of consulting services for a client on credit. Nay 15 . The company paid 3790 cash for an assistant's salary for the first half of this month. Hay 20 The company received $2,960 cash paysent for the services provided on May 12. Hay 22 The conpany provided $3,500 of coosulting services on credit. Hay 25 The company received \$3,500 cash payment for the services provided on May 22. Hay 26 . The company poid $1,870 cash for the equipaent purchased on Hay 3. Hay 27 The company purchased 585 of equipent on credit. May 28 . The company poId $790 cash for an assistant's salary for the second half of this month. hay 30 The coepany paid $400 cash for this month's telephane bili. hay 30 The company paid \$26e cash for this month's utilities. Hay 31 The company pald $1, 600 cash in divldends 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. Complete this question by entering your answers in the tabs below. Prepare the incocne statement for May