nect Saved Saved Help Save & CI 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 $40,eee cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,2ee cash for May's rent. 3 The company purchased $1,890 of office equipment on credit. 5 The company paid $750 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,4ee cash. 12 The company provided $2,5ee of consulting services for a client on credit. 15 The company paid $75e cash for an assistant's salary for the first half of this month. 28 The company received $2,500 cash payment for the services provided on May 12. 22 The company provided $3,2ee of consulting services on credit. 25 The company received $3,200 cash payment for the services provided on May 22. 26 The company paid $1,89e cash for the office equipment purchased on May 3. 27 The company purchased $8e of office equipment on credit. 28 The company paid $750 cash for an assistant's salary for the second half of this month. 30 The company paid $300 cash for this month's telephone bill. se The company paid $280 cash for this month's utilities. 31 The company paid $1,4ee cash in dividends to the owner (sole shareholder). quired: Enter the amount of each transaction on individual items of the accounting equation. Do not determine new account balan o Prepare income statement for May. THE GRAM CO. Income Statement For Month Ended May 31 Revenues: Expenses w