Maben Company was started on January $1,$ Year $1,$ and experienced the following events during its first year of operation:

Acquired $$32,000$ cash from the issue of common stock.

Borrowed $$44,000$ cash from National Bank.

Earned cash revenues of $$60,000$ for performing services.

Paid cash expenses of $$51,000.$

Paid a $$2,200$ cash dividend to the stockholders.

Acquired an additional $$32,000$ cash from the issue of common stock.

Paid $$11,000$ cash to reduce the principal balance of the bank note.

Paid $$49,000$ cash to purchase land.

Determined that the market value of the land is $$69,000.$

Required

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