After a successful year of operations, CIC has decided to pay a dividend to its shareholders. On January 1, CIC declared a $3,000 cash dividend to be paid on January 31 to shareholders of record on January 15.

Required

Record the events occurring on January 1 and January 31 in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA).

Date	Balance Sheet					Income Statement				Cash Flow
	Assets	Liab.	Equity		Rev.		Exp.	Net Inc.
	Cash	Div. Pay.	C. Stock	R. Earn.
Jan. 1
Jan. 31

Why is no entry required for January 15?