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[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

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[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 $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 $3.000 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 1-35A (Algo) Part b b. Determine the amount of total assets that Maben would report on the December 31, Year 1. balance sheet. Total assets 0

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