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of 5 47:56 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 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. b. Determine the amount of total assets that Maben would report on the December 31, Year 1, balance sheet.

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 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. b. Determine the amount of total assets that Maben would report on the December 31, Year 1, balance sheet

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