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 $40,000 cash from national bank. earned cash revenues of $48,000 for performing services. paid cash expenses of $25,000. paid a $1,000 cash dividend to the stockholders. acquired an additional $20,000 cash from the issue of common stock. paid $10,000 cash to reduce the principal balance of the bank note. paid $53,000 cash to purchase land. determined that the market value of the land is $75,000.