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Problem $1-34$A $($Algo$)$ Show how events affect the horizontal statements model LO $1-5,1-6,1-7,1-8,1-9,1-10$

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Maben Company was started on January $1,$ Year $1,$ and experienced the following events during its first year of operation:

Acquired $$31,000$ cash from the issue of common stock.

Borrowed $$43,000$ cash from National Bank.

Earned cash revenues of $$59,000$ for performing services.

Paid cash expenses of $$50,500.$

Paid a $$2,100$ cash dividend to the stockholders.

Acquired an additional $$31,000$ cash from the issue of common stock.

Paid $$11,000$ cash to reduce the principal balance of the bank note.

Paid $$50,000$ cash to purchase land.

Determined that the market value of the land is $$70,000.$

Problem $1-34$A $($Algo$)$ Part a

Required

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 require entry.$)$