Recording events in a horizontal statements model Maben Company was started on January 1, 2018, 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 $1,000 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 Required a. Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first event is shown as an example. Event No. Cash 30,000 + + Land NA - - Balance Sheet N.Pay + NA + C. Stock 30,000 + + Ret. Ear. NA Rey NA Income Statement - Exp. - Net Inc. - NA - NA Statement of Cash Flows 52,000 FA 1