Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquired $38,000 cash from the issue of common stock. Borrowed $32,000 cash from National Bank. Earned cash revenues of $56,000 for performing services. Paid cash expenses of $49,000. Paid a $1,800 cash dividend to the stockholders. Acquired an additional $28,000 cash from the issue of common stock. Paid $8,000 cash to reduce the principal balance of the bank note. Paid $61,000 cash to purchase land. Determined that the market value of the land is $85,000. a. Record the preceding transactions in the horizontal statements model.