May $1,$ Year $1,$ Love Corporation.

On May 1, Year 1, Love Corporation declared a $63,800 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. LOVE CORPORATION Horizontal Statements Model Income Statement Date Assets Balance Sheet Common Liabilities Retained Revenue Earnings Expense = Net Income Statement of Cash Flow Stock