Exercise 11-14A (Algo) Effect of cash dividends on financial statements LO 11-6 On May 1 Year 1 Love Corporation declared a $63,600 cash dividend to be paid on May 31 to shareholders of record on May 15. Required Record the events occurring on May, May 15, and May 31 in a horizontal statements model (Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Conh Flows column. Indiente whether the item is an operating activity (OA). Investing activity (IA), or financing activity (FA). Not all cells require input) LOVE CORPORATION Hortonal Statements Model Income Statement Ost Balance Sheet Common Liabilities Stock As Retained Earnings statement of Cash Flow Revenue Expense Net Income May May 15 May 3