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Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applles to the questions displayed below.] Maben Company
Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applles 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 $38,000 cash from the issue of common stock. 2. Borrowed $32,000 cash from National Bank. 3. Earned cash revenues of $56,000 for performing services. 4. Paid cash expenses of $49,000. 5. Paid a $1,800 cash dividend to the stockholders. 6. Acquired an additional $28,000 cash from the issue of common stock. 7. Paid $8,000 cash to reduce the principal balance of the bank note. 8. Paid $61,000 cash to purchase land. 9. Determined that the market value of the land is $85,000. Problem 2-20A (Algo) Part f f. Determine the percentage of assets that were provided by Investors, creditors, and earnings. Note: Round your answers to 2 decimal places
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