Charles Wilson has a ski school and excursion company, Sunland Ltd$.$ At the end of January, the following items were in his records:

Loan owed to the bank $$58,100$

Common shares $39,100$

Vehicles $65,300$

Ski equipment $23,200$

Amounts prepaid by customers for trips to be taken in February $93,000$

Retained earnings $26,600$

Amounts prepaid by Sunland to secure accommodations in February $58,100$

Cash in bank accounts $70,200$

$($a$)$

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Identify each of the items in his records as an asset, liability, or shareholders' equity item.

Item

Classification

Loan owed to the bank

select a classification

Liability

Common shares

select a classification

Shareholders' equity

Vehicles

select a classification

Asset

Ski equipment

select a classification

Asset

Amounts prepaid by customers for trips to be taken in February

select a classification

Asset

Retained earnings

select a classification

Shareholders' equity

Amounts prepaid by Sunland to secure accommodations in February

select a classification

Asset

Cash in bank accounts

select a classification

Asset

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List of Accounts

$($b$)$

Prepare a statement of financial position for Sunland Ltd$.$ at the end of January. $($List Assets in order of liquidity.$)$