On May $1,$ Year $3,$ Love Corporation declared a $$50,000$ 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.

$\backslash$table$[[$LOVE CORPORATION$],[$Horizontal Statements Model$],[$Date$,$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 $01,,=,,+,,+,,,-,,=,,],[$May $31,,=,,+,,+,,,-,,=,-,]]$