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On May 1, Year 3, Love Corporation declared a $68,700 cash dividend to be paid on May 31 to shareholders of record on May 15.

On May 1, Year 3, Love Corporation declared a $68,700 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)

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