Homework Seved On May 1. Year 1. Love Corporation declared a $90,000 cash dividend to be paid on May 31 to shareholders of record on May 15. Required a. Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (A), or financing activity (FA), Use NA to indicate that an element was not affected by the event. (Amounts to be deducted should be indicated with minus sign.) Baiance Sheet Common Stock Income Statement Expenso Retained Earnings Cash Flow Revenue Net Income May 1 May 15 May 31 . b. Prepare journal entries for all events associated with the dividend. (If no entry is required for a transaction/ journal entry required" in the first account field.) eBook View transaction list Print Journal entry worksheet 1 2 3 4 On May 1, Love Corporation declared a $90,000 cash dividend to be paid on May 31. Note Enter debits before credits. General Journal Debit Credit Date May 01 Record entry Clear entry View general Journal b. Prepare journal entries for all events associated with the dividend. (If no entry is required for a transaction/event, select journal entry required" in the first account field.) ok View transaction list int Journal entry worksheet The shareholders on record on May 15 will receive a dividend payment to be paid May 31. Note: Enter debits before credits Date General Journal Debit Credit May 15 Record entry Clear entry View general Journal k View transaction list Journal entry worksheet