o Required information Problem 1-35A (Algo) Recording events in a horizontal statements model LO 1-3,1-4,1-5, 1-6, 1-7, 1-8, 1-9. 1-10 [The following information applies to the questions displayed below] Maben Company was started on January 1. Year 1, and experienced the following events during its first year of operation 1. Acquired $36,000 cash from the issue of common stock 2. Borrowed $34,000 cash from National Bank 3. Earned cash revenues of $54,000 for performing services 4. Paid cash expenses of $48000 5. Paid a $1.600 cash dividend to the stockholders. 6. Acquired an additional $26.000 cash from the issue of common stock 7. Paid $9,000 cash to reduce the principal balance of the bank note 8. Paid $59.000 cash to purchase land 9. Determined that the market value of the land is $83.000, Problem 1-35A (Algo) Part b b. Determine the amount of total assets that Maben would report on the December 31 Year 1, balance sheet Total assets Required information Problem 1-35A (Algo) Recording events in a horizontal statements model LO 1-3, 1-4,1-5, 1-6, 1-7, 1-8, 1-9. 1-10 The following information applies to the questions displayed below.) Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation 1. Acquired $36,000 cash from the issue of common stock 2. Borrowed $34.000 cash from National Bank 3. Earned cash revenues of $54.000 for performing services. 4. Paid cash expenses of $48,000. 5. Paid a $1,600 cash dividend to the stockholders 6. Acquired an additional $26,000 cash from the issue of common stock 7. Paid $9,000 cash to reduce the principal balance of the bank note 8. Paid $59.000 cash to purchase land, 9. Determined that the market value of the land is $83,000. Event No. Assets Horizontal Statements Model for Year 1 Balance Sheet Income Statement Liabilities - Stockholders' Equity Net Notes Common Retained Revenue Expense Income Payable Stock Earnings 36,000 + Statement of Cash Flows Cash + Land FA 36,000 36,000+ + 1 2 3 + + 4 5 6 7 8 9 Total 0 0 36,000+ 36.000 0 36.000 + Required information Problem 1-35A (Algo) Recording events in a horizontal statements model LO 1-3, 1-4,1-5, 1-6, 1-7, 1-8, 1-9, 1-10 The following information applies to the questions displayed below) Maben Company was started on January 1 Year 1, and experienced the following events during its first year of operation 1. Acquired $36,000 cash from the issue of common stock 2. Borrowed $34,000 cash from National Bank 3. Earned cash revenues of $54.000 for performing services 4. Paid cash expenses of $48.000 5. Paid a $1,600 cash dividend to the stockholders 6. Acquired an additional $26,000 cash from the issue of common stock 7. Paid $9,000 cash to reduce the principal balance of the bank note 8. Paid $59.000 cash to purchase land 9. Determined that the market value of the land is $83,000 Problem 1-35A (Algo) Part d d-1. Determine the net income that Maben would report on the Year 1 income statement. Net income Required information Problem 1-35A (Algo) Recording events in a horizontal statements model LO 1-3, 1-4, 1-5, 1-6, 1-7, 1-8, 1-9, 1-10 The following information applies to the questions displayed below) Maben Company was started on January 1. Year 1, and experienced the following events during its first year of operation 1. Acquired $36,000 cash from the issue of common stock 2. Borrowed $34.000 cash from National Bank 3. Earned cash revenues of $54,000 for performing services 4. Paid cash expenses of $48,000 5. Paid a $1.600 cash dividend to the stockholders 6. Acquired an additional $26,000 cash from the issue of common stock 7. Paid $9,000 cash to reduce the principal balance of the bank note 8. Paid $59.000 cash to purchase land. 9. Determined that the market value of the land is $83.000 Problem 1-35A (Algo) Part e e. 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. (Enter cash outflows as negative amounts.) Net cash flows from operating activities Net cash flows from investing activities Net cash flows from financing activities