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

1. Acquired $29,000 cash from the issue of common stock.
2. Borrowed $41,000 cash from National Bank.
3. Earned cash revenues of $57,000 for performing services.
4. Paid cash expenses of $49,500.
5. Paid a $1,900 cash dividend to the stockholders.
6. Acquired an additional $29,000 cash from the issue of common stock.
7. Paid $10,000 cash to reduce the principal balance of the bank note.
8. Paid $52,000 cash to purchase land.
9. Determined that the market value of the land is $73,000.

b. Determine the amount of total assets that Maben would report on the December 31, Year 1, balance sheet.