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.

A) Determine the net income that Maben would report on the Year 1 income statement.

B) Determine the net cash flows from operating activities, investing activities, and financing activities that Maben would report on the Year 1 statement of cash flows.

C) Determine the percentage of assets that were provided by investors, creditors, and earnings.

D) What is the balance in the Retained Earnings account immediately after Event 3 is recorded?