its first year of operation:

Acquired $$35,000$ cash from the issue of common stock.

Borrowed $$35,000$ cash from National Bank.

Earned cash revenues of $$53,000$ for performing services.

Paid cash expenses of $$47,500.$

Paid a $$1,500$ cash dividend to the stockholders.

Acquired an additional $$25,000$ cash from the issue of common stock.

Paid $$9,000$ cash to reduce the principal balance of the bank note.

Paid $$58,000$ cash to purchase land.

Determined that the market value of the land is $$81,000.$

Required

a$.$ Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows classify the cash flows as operating activities $($OA$),$ investing activities $($IA$),$ or financing activities element is not affected by the event, leave the cell blank. The first event is shown as an examp any decreases to account balances and cash outflows with a minus sign. Not all cells require

$\backslash$table$[[$MABEN COMPANY$],[$Horizontal Statements Model for Year $1],[\backslash$table$[[$Even$],[$No$.]],$Balance Sheet,Income Statement,$\backslash$table$[[$Statement of$],[$Cash Flows$]]],[$Assets$,=\frac{\text{L}\text{i}\text{a}\text{b}\text{i}\text{l}\text{i}\text{t}\text{i}\text{e}\text{s}}{\text{N}\text{n}\text{t}\text{o}\text{c}},\backslash$table$[[$Stockholders$\text{'}],[$Equity$],[$Emmm Retait$]],$Revenue$-,$Expens,Net$],[,,,,6$ Prev,$41,-1,43,$of $47]]$