Al, Bill and Chad organized the ABC Corporation on January 1, 2009. Each of these owners invested $100,000 cash and received shares of stock. Below are selected transactions that were completed during January. (A.) Give the entry on ABC's books for each transaction: Sold stock to the owners. Borrowed $80,000 on one-year note payable. Purchased land by signing a $70,000 note payable. Paid $10,000 of accounts payable. Purchased two service vehicles, $24,000 each; paid cash. Purchased $2,000 of supplies on credit. (B.) Calculate total assets, total liabilities and total stockholders' equity based only on the 6 transactions above: