4 0 rt 4 of 6 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 experienced the following events during its first year of operation: ints eBook 1. Acquired $31.000 cash from the issue of common stock. 2. Borrowed $43,000 cash from National Bank 3. Earned cash revenues of $59,000 for performing services, 4. Paid cash expenses of $50,500. 5. Paid a $2,100 cash dividend to the stockholders. 6. Acquired an additional $31,000 cash from the issue of common stock 7. Paid $11,000 cash to reduce the principal balance of the bank note: 8. Paid $50,000 cash to purchase land. 9. Determined that the market value of the land is $70,000. References Problem 2-20A (Algo) Part d d-1. Determine the net income that Maben would report on the Year income statement Net incomo