MABEN COMPANY

Horizontal Statements Model for Year $1$

$\backslash$table$[[\backslash$table$[[$Event$],[$No$.]],$Balance Sheet,Income Statement,$\{$

$\backslash$table$[[$Statement of Cash$],[$Flows$]]\}],[$Assets$,=,\backslash$table$[[$Liabilities$],[$Notes$],[$Payable$]],\backslash$table$[[+],[+]],$Stockholders' Equity,Revenue,$-,$Expense,$=,\backslash$table$[[$Net$],[$Income$]]],[$Cash$,+,$Land,$\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]]],[1.,29,000,+,,=,,+,29,000,+,,,-,,=,,29,000,$FA$],[2.,41,000,+,,=,41,000,+,,+,,,-,,=,,41,000,],[3.,57,000,+,,=,,+,,+,,57,000,-,,=,,57,000,],[4.,(49,500),+,,=,,+,,+,,,-,(49,500),=,,(49,500),],[5.,(1,900),+,,=,,+,,+,,,-,,=,,(1,900),],[6.,29,000,+,,=,,+,29,000,+,,,-,,=,,29,000,$FA$],[7.,(10,000),+,,=,,+,,+,,,-,,=,,(10,000),],[8.,,+,52,000,=,,+,,+,,,-,,=,,,],[9.,,+,73,000$:$,=,,+,,+,,,-,,=,,,],[$Total$,94,600,+,125,000,=,41,000,+,58,000,+,0,57,000,-,(49,500),=,0,94,600,]]$ Maben Company was started on January $1,$ Year $1,$ and experienced the following events during its first year of operation:

Acquired $$29,000$ cash from the issue of common stock.

Borrowed $$41,000$ cash from National Bank.

Earned cash revenues of $$57,000$ for performing services.

Paid cash expenses of $$49,500.$

Paid a $$1,900$ cash dividend to the stockholders.

Acquired an additional $$29,000$ cash from the issue of common stock.

Paid $$10,000$ cash to reduce the principal balance of the bank note.

Paid $$52,000$ cash to purchase land.

Determined that the market value of the land is $$73,000.$

Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities $($OA$),$ investing activities $($IA$),$ or financing activities $($FA$).$ If the element is not affected by the event, leave the cell blank. The first event is shown as an example. $($Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.$)$