Required information [The following information applies to the questions displayed below 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 $42,000 cash from National Bank. 3. Earned cash revenues of $58,000 for performing services. 4. Paid cash expenses of $50,000 5. Paid a $2,000 cash dividend to the stockholders. 6. Acquired an additional $30,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $51,000 cash to purchase land. 9. Determined that the market value of the land is $71,000 g. What is the balance in the Retained Earnings account immediately after Event 3 is recorded? Balance in retained earnings