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PLEASE ANSWER USING THE TABLES FROM THE QUESTIONS Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The
PLEASE ANSWER USING THE TABLES FROM THE QUESTIONS
Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [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 $37,000 cash from the issue of common stock. 2. Borrowed $33,000 cash from National Bank. 3. Earned cash revenues of $55,000 for performing services. 4. Paid cash expenses of $48,500. 5. Paid a $1,700 cash dividend to the stockholders. 6. Acquired an additional $27,000 cash from the issue of common stock. 7. Paid $8,000 cash to reduce the principal balance of the bank note. 8 . Paid $60,000 cash to purchase land. 9. Determined that the market value of the land is $84,000. Problem 2-20A (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. Note: Enter cash outflows as negative amounts. f. Determine the percentage of assets that were provided by investors, creditors, and earnings. Note: Round your answers to 2 decimal placesStep by Step Solution
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