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

1.Acquired $30,000 cash from the issue of common stock

2.Borrowed $40,000 cash from national Bank

3.Earned cash revenues of $48,000 for performing services

4.Paid cash expenses of $25,000

5.Paid a $1000 cash dividend to the stockholders

6.Acquired an additional $20,000 cash from the issue of common stock

7. Paid $10,000 cash to reduce the principal balance of the bank note

8.Paid $53,000 cash to purchase land

9. Determined that the market value of the land is $75,000

a. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and cash flows. Also, in the Statement of Cash Flows column, classify the cash flows as operating a t of s (IA), or activities (FA), net change in cash (NC) and NA to indicate the element is not affected by the event. The first event is shown s (OA), investing a as an example. (Enter any decreases to account balances and cash outflows with a minus sign.) Balance Sheet Flows Cash+Land 30,000+ +30,000+ 30,000 FA