Required information Problem 1-35 Recording events in a horizontal statements model LO 1-3, 1-4, 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, 2018, and experienced the following events during its first year of operation: 1 Acquired $38,000 cash from the issue of common stock 2 Borrowed $32,000 cash from National Bank 3. Earned cash revenues of $56,000 for performing services 4. Paid cash expenses of $49,000 5. Paid a $1,800 cash dividend to the stockholders 6. Acquired an additional $28.000 cash from the issue of common stock 7. Paid $8,000 cash to reduce the principal balance of the bank note 8. Paid $61,000 cash to purchase land 9. Determined that the market value of the land is $85,000. Problem 1-35 Part g 9. What is the balance in the Retained Earnings account immediately ofter Event 3 is recorded? Balance in retained earnings