Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation: Acquired $34,000 cash from the issue of common stock.
Borrowed $46,000 cash from National Bank.
Earned cash revenues of $62,000 for performing services.
Paid cash expenses of $52,000.
Paid a $2,400 cash dividend to the stockholders.
Acquired an additional $34,000 cash from the issue of common stock.
Paid $12,000 cash to reduce the principal balance of the bank note.
Paid $47,000 cash to purchase land.
Determined that the market value of the land is $66,000.
Required
Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or net change in cash (NC). If the element is not affected by the event, leave the cell blank. The first event is shown as an example. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.)

P8-4b dropping unfavorable division based on the following analysis of last year's operations of groves, inc., a financial vice president of the company believes that the firm's total net income could be increased by $160,000 if its design division were discontinued. (amounts are given in the thousands of dollars.) required provide answers for each of the following independent situations: a. assuming that total fixed costs and expenses would not be affected by discontinuing the design division, prepare an analysis showing why you agree or disagree with the vice president. b. assume that the discontinuance of the design division will enable the company to avoid 30% of the fixed portion of cost of services and 40% of the fixed operating expenses allocated to the design division. calculate the resulting effect on net income. c. assume that in addition to the cost avoidance in requirement (b), the capacity released by discontinuance of the design division can be used to provide 6,000 new services that would have a variable cost per service of $60 and would require additional fixed costs totaling $68,000. at what unit price must the new service be sold if groves is to increase its total net income by $180,000?