Check Required information Problem 1-34A Show how events affect the horizontal statements model LO 1-5, 1-6, 1-7, 1-8, 1-9, 1-10 The following information appies to the questions displayed below) Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation 1. Acquired $32,000 cash from the issue of common stock 2. Borrowed $44000 cash from National Bank 3. Earned cash revenues of $60,000 for performing services 4. Paid cash expenses of $51000 5 Paid a $2.200 cash dividend to the stockholders 6. Acquired an additional $32.000 cash from the issue of common stock 7. Paid $11.000 cash to reduce the principal balance of the bank note 8. Pald $49,000 cash to purchase land 9. Determined that the market value of the land is $69.000. Problem 1-34A Part b b. Determine the amount of total assets that Maben would report on the December 31 Year 1 balance sheet Total assets Dron . 21 Next > 1. Acquired $32,000 cash from the issue of common stock 2. Borrowed $44,000 cash from National Bank 3. Earned cash revenues of $60,000 for performing services. 4. Paid cash expenses of $51,000, 5. Paid a $2,200 cash dividend to the stockholders. 6. Acquired an additional $32,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $49,000 cash to purchase land, 9. Determined that the market value of the land is $69,000. Problem 1-34A Part c c. Identify the asset source transactions and related amounts for Year 1 Sources of Assets Event Amount Total sources of assets Our Problem 1-34A Show how events affect the horizontal statements model LO 1-5, 1-6, 1-7, 1-8, 1-9, 1-10 [The following information applies to the questions displayed below) Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation 1. Acquired $32,000 cash from the issue of common stock 2. Borrowed $44,000 cash from National Bank 3. Earned cash revenues of $60.000 for performing services. 4. Paid cash expenses of $51.000. 5. Paid a $2,200 cash dividend to the stockholders. 6. Acquired an additional $32.000 cash from the issue of common stock 7. Paid $11,000 cash to reduce the principal balance of the bank note, 8. Paid $49.000 cash to purchase land. 9. Determined that the market value of the land is $69,000 Problem 1-34A Part d d-1. Determine the net income that Maben would report on the Year 1 income statement Net income 1. Acquired $32,000 cash from the issue of common stock 2. Borrowed $44,000 cash from National Bank 3. Earned cash revenues of $60,000 for performing services 4. Paid cash expenses of $51,000, 5. Paid a $2,200 cash dividend to the stockholders 6. Acquired an additional $32,000 cash from the issue of common stock 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $49,000 cash to purchase land. 9. Determined that the market value of the land is $69,000. Problem 1-34A Parte e. Determine the net cash flows from operating activities, investing activities, and financing activities that Maben would re Year 1 statement of cash flows. (Enter cash outflows as negative amounts.) Net cash flows from operating activities Net cash flows from investing activities Net cash flows from financing activities