Reference no: EM132470589
Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation:
Point 1: Acquired $31,000 cash from the issue of common stock.
Point 2: Borrowed $39,000 cash from National Bank.
Point 3: Earned cash revenues of $49,000 for performing services.
Point 4: Paid cash expenses of $45,500.
Point 5: Paid a $1,100 cash dividend to the stockholders.
Point 6: Acquired an additional $21,000 cash from the issue of common stock.
Point 7: Paid $10,000 cash to reduce the principal balance of the bank note.
Point 8: Paid $54,000 cash to purchase land.
Point 9: Determined that the market value of the land is $76,000.
Question 1: Determine the percentage of assets that were provided by investors, creditors, and earnings. (Round your answers to 2 decimal places.)
Question 2: What is the balance in the Retained Earnings account immediately after Event 3 is recorded?
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