On May 1, 2013, Sturgis Corporation declared a $100,000 cash dividend to be paid on May 31 to shareholders of record on May 15.
Required:
a. Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA).
![1041_264-B-A-C (265).png](https://secure.tutorsglobe.com/CMSImages/1041_264-B-A-C (265).png)
b. Prepare journal entries for all events associated with the dividend.