On May 1, Year 3, Love Corporation declared a $61,800 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 a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.) LOVE CORPORATION Balance Sheet Common Liabilities Stock Horizontal Statements Model Income Statement Retained Revenue Earnings Expense Statement of Cash Flow Date Assets + Net Income = May 1 May 31 ++ + +