On May 1, Year 1, Love Corporation declared a $50,000 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. b. Prepare journal entries for all events associated with the dividend. Complete this question by entering your answers in the tabs below. Required A Required B Answer is not complete. 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 i (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 a minus sign.) LOVE CORPORATION Horizontal Statements Model Balance Sheet Date Assets = Liabilities + Common Stock + Retained Earnings Revenue - May 01 = 50,000 + + (50,000) May 15 = + + May 31 (50,000) = (50,000) + + Income Statement Expenses Required A Required B > = = = = Net Income Statement of Cash Flows (50,000) FA