Required information (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 $38,000 cash from National Bank 3. Earned cash revenues of $50,000 for performing services. 4. Paid cash expenses of $46,000. 5. Pald a $1.200 cash dividend to the stockholders. 6. Acquired an additional $22,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $55,000 cash to purchase land. 9. Determined that the market value of the land is $77,000. Required a. Show the effects of the events on the financial statements using a horizontal financial statements model like the following one. In the Cash Flow column, use OA to designate operating activity, IA for investment activity. FA for financing activity, and NC for net change in cash. The first event is recorded as an example. (Enter any decreases to account balances with a minus sign. Not all cells In the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.) Event No. MABEN COMPANY Horizontal Financial Statements Model for Year 1 Balance Sheet Income Statement Liabilities Stockholders' Equity Notes Common Retained Revenue - Expense Income Payable S tock Earnings + 32,000 + Net Assets Cash + Land Statement of Cash Flows 32,000 - 32,000 FA