Problem 1-34A (Algo) Show how events affect the horizontal statements model LO 1-5, 1-6, 1-7, 1-8, 1-9, 1-10\ Skip to question\ [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:\ \ Acquired $37,000 cash from the issue of common stock.\ \ Borrowed $33,000 cash from National Bank.\ \ Earned cash revenues of $55,000 for performing services.\ \ Paid cash expenses of $48,500.\ \ Paid a $1,700 cash dividend to the stockholders.\ \ Acquired an additional $27,000 cash from the issue of common stock.\ \ Paid $8,000 cash to reduce the principal balance of the bank note.\ \ Paid $60,000 cash to purchase land.\ \ Determined that the market value of the land is $84,000.