Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 21 [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 $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 2-20A (Algo) Part a Required: a. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. In the Cash Flow column, use A to designate operating activity, IA for investment activity, and FA for financing activity. The first event is recorded as an example. Note: Enter any decreases to account balances with a minus sign. Not all cells in the "Statement of Cash Flows" column may require an insut - leave cells blank if thera is nn rorraennnelinn innut noedod