Exercise $11-14$A $($Algo$)$ Effect of cash dividends on financial statements LO $11-6$

On May $1,$ Year $1,$ Love Corporation declared a $$80,300$ cash dividend to be paid on May $31$ to shareholders of record on May $15.$

Required:

Record the events occurring on May $1,$ May $15,$ and May $31$ in a horizontal statements model.

Note: Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Cash Flows column, indicate whether the item is an operating activity $($OA$),$ investing activity $($IA$),$ or financing activity $($FA$).$ Not all cells require input.

$\backslash$table$[[$LOVE CORPORATION$],[$Horizontal Statements Model$],[$Date$,$Balance Sheet,Income Statement,$\backslash$table$[[$Statement of Cash$],[$Flow$]]],[$Assets$,=,$Liabilities,$+,\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]],$Revenue,$-,$Expense,$=,$Net Income$],[$May $1,,=,,+,,+,,,-,,=,,?],[$May $15,,=,,+,,+,,,-,,=,,],[$May $31,,=,,+,,+,,,-,,=,,]]$