Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation:
1. Acquired $35,000 cash from the issue of common stock.
2. Borrowed $47,000 cash from National Bank.
3. Earned cash revenues of $63,000 for performing services.
4. Paid cash expenses of $52,500.
5. Paid a $2,500 cash dividend to the stockholders.
6. Acquired an additional $35,000 cash from the issue of common stock.
7. Paid $12,000 cash to reduce the principal balance of the banknote.
8. Paid $46,000 cash to purchase land.
9. Determined that the market value of the land is $64,000.
Required:
Show the effects of the events on the financial statements using a horizontal financial statements model. 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. (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.)