Requlred Informatlon Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.] Maben Company was started on January 1 , Year 1, and experlenced the following events during its first year of operation: 1. Acquired $29,000 cash from the Issue of common stock. 2. Borrowed $41,000 cash from National Bank. 3. Earned cash revenues of $57,000 for performing services. 4. Pald cash expenses of $49,500. 5. Paid a $1,900 cash dividend to the stockholders. 6. Acquired an additional $29,000 cash from the Issue of common stock. 7. Pald $10,000 cash to reduce the princlpal balance of the bank note. 8. Pald $52,000 cash to purchase land. 9. Determined that the market value of the land Is $73,000. Problem 2-20A (Algo) Part b b. Determine the amount of total assets that Maben would report on the December 31 , Year 1 , balance sheet. Required Information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applles to the questions displayed below.] Maben Company was started on January 1 , Year 1 , and experlenced the following events during its first year of operation: 1. Acquired $29,000 cash from the issue of common stock. 2. Borrowed $41,000 cash from National Bank. 3. Earned cash revenues of $57,000 for performing services. 4. Pald cash expenses of $49,500. 5. Pald a $1,900 cash dividend to the stockholders. 6. Acquired an additional $29,000 cash from the Issue of common stock. 7. Pald $10,000 cash to reduce the principal balance of the bank note. 8. Pald $52,000 cash to purchase land. 9. Determmed that the market value of the land is $73,000. Problem 2-20A (Algo) Part c c. Identify the asset source transactions and related amounts for Year 1. Required Information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experlenced the following events during its first year of operation: 1. Acquired $29,000 cash from the Issue of common stock. 2. Borrowed $41,000 cash from National Bank. 3. Earned cash revenues of $57,000 for performing services. 4. Pald cash expenses of $49,500. 5. Paid a $1,900 cash dividend to the stockholders. 6. Acquired an additional $29,000 cash from the Issue of common stock. 7. Pald $10,000 cash to reduce the principal balance of the bank note. 8. Paid $52,000 cash to purchase land. 9. Determined that the market value of the land is $73,000. Problem 2-20A (Algo) Part d d-1. Determine the net Income that Maben would report on the Year 1 Income statement. d-2. WIII dividends appear in the Income statement? Yes