14 5:32 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 $34,000 cash from the issue of common stock. 2. Borrowed $36,000 cash from National Bank. 3. Earned cash revenues of $52,000 for performing services. 4. Paid cash expenses of $47,000. 5. Paid a $1,400 cash dividend to the stockholders. 6. Acquired an additional $24,000 cash from the issue of common stock. 7. Paid $9,000 cash to reduce the principal balance of the bank note. 8. Paid $57,000 cash to purchase land. 9. Determined that the market value of the land is $80,000. Required information Event No. Assets Cash + Land 1. 2. 3. 4. 5. 6. 7. 8. 9. Total 34,000+ + " MABEN COMPANY Horizontal Statements Model for Year 1 Balance Sheet Income Statement Liabilities + Stockholders' Equity Notes. Payable Common Retained Revenue Expense Net Income Statement of Cash Flows + Stock Earnings = + 34,000+ 34,000 FA + = + +