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Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation:

Acquired $30,000 cash from the issue of common stock.

Borrowed $42,000 cash from National Bank.

Earned cash revenues of $58,000 for performing services.

Paid cash expenses of $50,000.

Paid a $2,000 cash dividend to the stockholders.

Acquired an additional $30,000 cash from the issue of common stock.

Paid $11,000 cash to reduce the principal balance of the bank note.

Paid $51,000 cash to purchase land.

Determined that the market value of the land is $71,000.

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 $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 servics. 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. Problem 2-20A (Algo) Part f f. Determine the percentage of assets that were provided by investors, creditors, and earnings. Note: Round your answers to 2 decimal places. 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 $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 servics. 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. Problem 2-20A (Algo) Part f f. Determine the percentage of assets that were provided by investors, creditors, and earnings. Note: Round your answers to 2 decimal places

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