! Required information Problem 1-35A (Algo) 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, Year 1, and experienced the following events during its first year of operation: 1. Acquired $31,000 cash from the issue of common stock 2. Borrowed $39.000 cash from National Bank 3. Earned cash revenues of $49,000 for performing services. 4. Paid cash expenses of $45,500. 5. Paid a $1,100 cash dividend to the stockholders, 6. Acquired an additional $21,000 cash from the issue of common stock 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $54.000 cash to purchase land 9. Determined that the market value of the land is $76,000. es Problem 1-35A (Algo) Part a Event No. Assets MABEN COMPANY Horizontal Statements Model for Year 1 Balance Sheet Income Statement = Liabilities + Stockholders' Equity Net Notes Common Retained Revenue Expense Income Payable Stock Earnings 31,000 + Statement of Cash Flows Cash + Land + + 31.000 + 1 2. 31000 FA 2 + + + + + 3 + + + 11 4. + 5. + + +++ 11111 6 7 8. + + + + + + + + + + +++ 9 ILLE Total