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[ I ne tollowing intormat on applies to the quest ons aisplayea DeIow. ] Maben Company was started on January 1 , Year 1 ,
I ne tollowing intormaton applies to the questons aisplayea DeIow.
Maben Company was started on January Year and experienced the following events during its first year of operation:
Acquired $ cash from the issue of common stock.
Borrowed $ cash from National Bank.
Earned cash revenues of $ for performing services.
Paid cash expenses of $
Paid a $ cash dividend to the stockholders.
Acquired an additional $ cash from the issue of common stock.
Paid $ cash to reduce the principal balance of the bank note.
Paid $ cash to purchase land.
Determined that the market value of the land is $
Required
d Determine the net income that Maben would report on the Year income statement.
d Will dividends appear in the income statement?
tabled Net income,Yesd Will dividends appear in the income statement?,
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