- Semester Case - Cowboy Ice Cream, Inc. After a successful year of operations, CIC has decided to pay a dividend to its shareholders. On January 1, CIC declared a $3.000 cash dividend to be paid on January 31 to shareholders of record on January 15. Required Record the events occurring on January 1 and January 31 in a horizontal statements modelle the following one. In the Cash Flow column. Indicate whether the item is an operating activity (OA). investing activity (A), or financing activity (FA), Date Cash Flow Assets Cash Balance Sheet Lab. Equity Div. Pay C. Stock R. Earn Income Statement Net Rev. Exp. Inc. Jan. 1 Non-Cach Jan. 31 (3.00) (3.00) 23,600 Why is no entry required for January 158