On May $1,$ Year $3,$ Love Corporation declared a $$42,600$ cash dividend to be paid on May $31$ to shareholders of record on May $15.$

Required

Record the events occurring on May $1$ and May $31$ in the following horizontal statements model. Also, in the Statement of Cash Flows

column, classify the cash flows as operating activities $($OA$),$ investing activities $($IA$),$ or financing activities $($FA$).$

Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed.