Problem 1-7A Part 2 and 3 2-a. Prepare income statement for May. 2-b. Prepare statement of owner's equity for May. 2-c. Prepare Balance Sheet for May 31. 3. Prepare statement of cash flows for May. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Required 3 Prepare statement of cash flows for May. (Cash outflows should be indicated wit THE GRAM CO. Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities $ 0 Cash flows from investing activities Problem 1-1A Part 2 ana 2-a. Prepare income statement for May. 2-b. Prepare statement of owner's equity for May. 2-c. Prepare Balance Sheet for May 31. 3. Prepare statement of cash flows for May. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Required 3 Prepare statement of owner's equity for May. THE GRAM CO. Statement of Owner's Equity For Month Ended May 31 G. Gram, Capital, May 1 $ 0 0 G. Gram, Capital, May 31 $ 0 Problem 1-7A Part 2 and 3 2-a. Prepare income statement for May. 2-b. Prepare statement of owner's equity for May. 2-c. Prepare Balance Sheet for May 31. 3. Prepare statement of cash flows for May. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Required 3 Prepare Balance Sheet for May 31. THE GRAM CO. Balance Sheet May 31 Assets Liabilities Accounts receivable Equity Total assets $ 0 Total liabilities and equity $ 0 Tirst Orihi May 1 G. Gram invested $45,000 cash in the company. 1 The company rented a furnished office and paid $2,500 cash for May's rent. 3 The company purchased $1,880 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 55,200 cash. 12 The company provided $2,700 of consulting services for a client on credit. 15 The company paid $710 cash for an assistant's salary for the first half of this month. 20 The company received $2,700 cash payment for the services provided on May 12. 22 The company provided $3,700 of consulting services on credit. 25 The company received $3,700 cash payment for the services provided on May 22. 26 The company paid $1,888 cash for the office equipment purchased on May 3. 27 The company purchased $85 of office equipment on credit. 28 The company paid $710 cash for an assistant's salary for the second half of this month. 30 The company paid $350 cash for this month's telephone bill. 30 The company paid $290 cash for this month's utilities. 31 G. Gram withdrew $1,600 cash from the company for personal use. lem 1-7A Part 2 and 3 Prepare Income statement for May. repare statement of owner's equity for May. repare Balance Sheet for May 31. pare statement of cash flows for May. mplete this question by entering your answers in the tabs below. uired 2A Required 2B Required 2C Required 3 are statement of cash flows for May. (Cash outflows should be indicated with a minus sign.) THE GRAM CO. Statement of Cash Flows For Month Ended May 31