25 Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $35,000 cash from the issue of common stock. 2. Borrowed $47.000 cash from National Bank. 3. Earned cash revenues of $63,000 for performing services. 4. Paid cash expenses of $52,500. 5. Paid a $2,500 cash dividend to the stockholders. 6. Acquired an additional $35,000 cash from the issue of common stock. 7. Paid $12,000 cash to reduce the principal balance of the bank note. 8. Paid $46,000 cash to purchase land. 9. Determined that the market value of the land is $64,000. Problem 1-34A (Algo) Part g g. What is the balance in the Retained Earnings account immediately after Event 3 is recorded? xx | My Ww1 x M b Save & Exit Sub ent 1 Chapter 1 eck my work mode: This shows what is correct or incorect for the work you have completed so far. It does not indicate Return to question The following information applies to the questions displayed below Maben Company was started on January 1, art, and experienced the folowing events during its first year of operation 1. Acquired $35,000 cash on these of common stock 2. Borrowed $47.000 cash on National 3. Eamed cash revenues of $63.000 for pering 4. Paid cash expenses of $52.500 5. Paid a $2.500 cash dedend to the stockholders 6. Acquired an additional $35.000 cash for the hoe of common stock 7. Pad $12,000 cash to reduce the princed balance of the bank note 8. Paid $46,000 cash to purchase land 9. Determined that the market value of the land is $6-4,000 Problem 1-34A (Algo) Part g 9. What the balance in the Retained Eamangat day after Event 3 is recorded? Answer is complete but not entirely c 00000 C D