On May 1, Year 1, Love Corporation declared a $82,100 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. (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 in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.)

LOVE CORPORATION

Horizontal Statements Model

Balance Sheet

Income Statement

Statement of Cash Flow

Date

Assets

=

Liabilities

+

Common Stock

+

Retained Earnings

Revenue

Expense

=

Net Income

May 1

=

82,100

+

+

(82,100)

=

May 15

=

+

+

=

May 31

(82,100)

=

(82,100)

+

+

=

(82,100)