Required information 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 [The following information applles 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 $35,000 cash from the issue of common stock. 2. Borrowed $47.000 cash from National Bank. 3. Earned cash revenues of $63,000 for performing services. 4. Paid cash expenses of $52.500. 5. Paid a $2,500 cash dividend to the stockholders. 6. Acquired an additional $35,000 cash from the issue of common stock. 7. Pald $12,000 cash to reduce the principal balance of the bank note. 8. Paid $46.000 cash to purchase land. 9. Determined that the market value of the land is $64.000. Problem 1-34A (Algo) Part g 9. What is the balance in the Retained Earnings account imrnedlately after Event 3 is recorded