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 $32,000 cash from the issue of common stock. 2. Borrowed $44,000 cash from National Bank. 3. Earned cash revenues of $60,000 for performing services. 4. Paid cash expenses of $51,000. 5. Paid a $2,200 cash dividend to the stockholders. 6. Acquired an additional $32,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $49,000 cash to purchase land. 9. Determined that the market value of the land is $69,000.