On May $1,$ Year $1,$ Love Corporation declared a $$41,500$ 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.

b$.$ Prepare journal entries for all events associated with the dividend.

Complete this question by entering your answers in the tabs below.

Required B

Record the events occurring on May $1,$ May $15,$ and May $31$ in a horizontal statements model. $($In the Statement of Cash Flows column, indicate whether the jtem $($OA$),$ investing activity $($IA$),$ or financing activity $($FA$).$ Leave blank to indicate that an element was not affected by the event. Enter amounts to be deducted and $c$ minus sign.$)$

$\backslash$table$[[$LOVE CORPORATION$],[$Date$,$Horizontal Statements Model,$],[$Balance Sheet,Income Statement,$\backslash$table$[[$Statement of Cash$],[$Flows$]]],[$Assets$,=,$Liabilities,$+,\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]],$Revenue,$-,$Expenses,$=,$Net Income$],[$May $01,,=,2,+,,+,$n$,,-,,=,,P$