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Exercise 11-14A (Algo) Effect of cash dividends on financial statements LO 11-6 On May 1, Year 1, Love Corporation declared a $96.000 cash diwidend 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 outtlows 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